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DuPont says net income more than doubles on strong agricultural results in 1Q
DOVER, Del. – The DuPont Co. says its net income more than doubled in the first quarter on strong results by its agricultural unit.
Du Pont, based in Wilmington, Delaware, reported net income of $3.35 billion or $3.58 per share for the quarter ended March 31. That’s up from $1.49 billion, or $1.58 per share, a year ago.
Its operating earnings fell 6 per cent to $1.46 billion, or $1.56 per share. Analysts surveyed by FactSet expected $1.53 per share.
Revenue increased 2 per cent to $10.4 billion — matching Wall Street expectations — with 4 per cent volume growth in North American and Latin America.
Agriculture operating earnings increased 13 per cent to a record $1.5 billion.
DuPont also announced a 5 per cent increase in its quarterly cash dividend.
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