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DuPont Cuts H1, 2013 Operating EPS View - Quick Facts

Chemicals giant EI DuPont De Nemours & Co. (DD), at the Deutsche Bank Global Industrial and Basic Materials conference today, said it aims to generate superior shareholder returns and enhance the company value by aggressively advancing its three strategic priorities such as extending its leadership in high-value, science-driven segments of the agriculture-to-food value chains; strengthening and growing DuPont's position as a provider of differentiated, high-value advanced materials, and; developing industrial biotechnology capabilities that create transformational, new bio-based businesses.

The company said it is on track with its three operational priorities like increasing return on innovation, expanding its global reach and continuing to deliver significant productivity gains. "Unseasonably cool, wet weather across North America and Europe is impacting our Agriculture and Nutrition & Health segments' second-quarter revenues and costs," the firm added.

Therefore, DuPont sees first-half operating earnings per share to be about 10 percent below last year versus the 7-9 percent lower year-on-year outlook communicated earlier. Looking ahead to the second quarter, operating earnings per share is anticipated to be $1.27, while 21 analysts estimate earnings of $1.36 per share.

For the full year 2013, DuPont now projects operating earnings per share to be at the low end of its prior target range of $3.85 - $4.05 per share, based on anticipated improvement in global industrial market demand. On average, 24 analysts polled by Thomson Reuters expect earnings per share of $3.90 for 2013. Analysts' estimates typically exclude one-time items.

The company would announce its second-quarter results on July 23.

by RTT Staff Writer

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