For the full year, DuPont reported EPS of $4.01 on revenues of $34.7 billion, compared with 2013 EPS of $3.88 on revenues of $35.7 billion. Analysts were expecting $4.01 EPS on revenues of $35.44 billion. On a GAAP basis, DuPont posted full-year EPS of $3.90, compared with $3.04 in the prior year.
The company also said that it expects to repurchase $4 billion in stock using “all or substantially all” the proceeds from its spin-off of its Chemours division. That is not likely to be enough to satisfy critics like Trian Fund Management’s Nelson Peltz who want the 200-year old company to be broken up into pieces.
CEO Ellen Kullman said:
In 2015, we remain focused on generating superior returns for our shareholders, including through return of capital from the expected Chemours dividend, while positioning DuPont for our next stage of growth.
Analysts are calling for first-quarter EPS of $1.73 on revenues of $10.49 billion. The current full-year EPS estimate is $4.46. Full-year revenue is estimated to come in at $36.69 billion.
In answer to its critics, DuPont is slashing costs, adding $300 million to a prior commitment to chop $1 billion in costs by 2017. That is how the company improves its earnings per share performance while it watches revenues slip. A weaker global agriculture economy and a strong U.S. dollar are strong headwinds for the firm.
Shares of DuPont closed at $74.11 on Monday night and traded down about 1.5% in Tuesday’s premarket. The 52-week range is $59.35-$75.82.
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