DuPont Q4 Profit Doubles, Share Buyback Announced

Photo of Trey Thoelcke
By Trey Thoelcke Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

E.I. du Pont de Nemours and Company (NYSE: DD), commonly known as DuPont, reported fourth-quarter and full-year 2013 results before markets opened Tuesday. For the quarter, the diversified chemicals company posted diluted earnings per share (EPS) of $0.59 on revenues of $7.84 billion. In the same period a year ago, the company reported adjusted EPS of $0.11 on revenues of $7.32 billion. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.55 and $7.78 billion in revenues. Operating margins improved across most segments.

For the full year, DuPont posted EPS of $3.88 on revenues of $35.70 billion, compared with consensus estimates calling for EPS of $3.84 on revenues of $35.85 billion. Revenues rose more than 5% year-over-year and EPS were up by 3%.

The company’s CEO said:

For the year, we delivered double-digit operating earnings growth and higher margins, aside from the substantial decline in Performance Chemicals. The improvement was driven by higher volumes, new innovative products and productivity gains. … Our 2013 results and strategic actions demonstrate we are advancing our plan to build a higher growth, higher value DuPont and reinforce our decision to separate Performance Chemicals into a strong, independent company.

The company said that it expects full-year 2014 operating earnings of $4.20 to $4.45 per share, up 8% to 15% versus 2013, and revenues increasing 4% to about $37 billion. Consensus forecasts so far call for EPS of $4.31 and revenue of $38.06 billion for the full year, as well as $1.76 per share and of $11.00 billion in the current quarter.

DuPont separately announced that its board of directors has authorized a new $5 billion share repurchase program. Just $2 billion of that is expect to be spent in 2014.

DuPont shares were inactive in premarket trading Tuesday, after closing Monday at $60.24 in a 52-week range of $46.02 to $65.00. Thomson Reuters had a consensus analyst price target of around $65.12 before the report.

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618