DuPont Blames the Weather for Earnings Miss

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By Trey Thoelcke Published
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E.I. du Pont de Nemours and Company (NYSE: DD), commonly known as DuPont, reported first-quarter results before markets opened Thursday. The diversified chemicals company posted diluted earnings per share (EPS) of $1.58 on revenues of $10.1 billion. In the same period a year ago, the company reported adjusted EPS of $1.56 on revenues of $10.41 billion. First-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $1.59 and $10.45 billion in revenues.

Operating margins improved across most segments. However, the company said adverse weather conditions reduced earnings by an estimated $0.07 per share.

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The company’s CEO said:

We achieved substantial earnings growth in most of our segments in the first quarter as we advanced our strategic and operational priorities. … We delivered near record earnings per share despite the challenges of harsh weather and differences in year-on-year comparisons in our Agriculture Segment, and our key initiatives remain on track.

Those initiatives that remain on track include DuPont’s productivity initiatives, share repurchase program and Performance Chemicals separation.

The company reaffirmed its full-year 2014 operating earnings of $4.20 to $4.45 per share, which would be 8% to 15% higher than in 2013. Consensus forecasts so far call for EPS of $4.32 and revenue of $37.15 billion for the full year, as well as $1.49 per share and of $10.43 billion in the current quarter.

DuPont shares were inactive in premarket trading Thursday, after closing Wednesday at $67.72 in a 52-week range of $48.23 to $68.82. Thomson Reuters had a consensus analyst price target of around $68.64 before the report.

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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.

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