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S&P 500 (NYSE:SPY) component E. I. du Pont de Nemours and Company (DuPont) (NYSE:DD) reported its results for the fourth quarter. E.I. du Pont de Nemours & Company offers products and services for markets including agriculture and food, building and construction, electronics and communications, general industrial, and transportation.
Investing Insights: Will the iPad 3 Be the Next Catalyst for Apple’s Stock?
E. I. du Pont de Nemours and Company (DuPont Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for the conglomerates company fell to $373 million (40 cents per share) vs. $376 million (40 cents per share) a year earlier. This is a decline of 0.8% from the year earlier quarter.
Revenue: Rose 13.8% to $8.43 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: DD reported adjusted net income of 35 cents per share. By that measure, the company beat the mean estimate of 33 cents per share. Analysts were expecting revenue of $8.53 billion.
Quoting Management: “We delivered exceptional full-year results in 2011 despite significant market headwinds late in the year,” said DuPont Chair and CEO Ellen Kullman. “Our market-driven science continues to meet customer needs in food, energy and protection. Acquisitions in Nutrition & Health and Industrial Biosciences, coupled with robust and disciplined productivity efforts across our businesses, contributed to our successful performance. We remain well-positioned to serve customers and innovate as key markets rebound and global population growth drives new opportunities.”
Key Stats:
The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 18.5%, with the biggest boost coming in the third quarter when revenue rose 32% from the year earlier quarter.
The company has now topped analyst estimates for the last four quarters. It beat the mark by 13 cents in the third quarter, by 4 cents in the second quarter, and by 15 cents in the first quarter.
Last quarter’s profit decrease breaks a streak of three consecutive quarters of year-over-year profit increases. Net income rose 23.2% in the third quarter from the year earlier, while the figure rose 5.1% in the second quarter and 26.7% in the first quarter.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved down from $1.67 a share to $1.61 over the last sixty days. Over the past sixty days, the average estimate for the fiscal year has reached $3.92 abs per share, a decline from $4.03.
Competitors to Watch: The Dow Chemical Company (NYSE:DOW), FMC Corporation (NYSE:FMC), PPG Industries, Inc. (NYSE:PPG), 3M Company (NYSE:MMM), Honeywell Intl. Inc. (NYSE:HON), Akzo Nobel N.V. (AKZOY), Rockwood Holdings, Inc. (NYSE:ROC), Monsanto Company (NYSE:MON), PolyOne Corporation (NYSE:POL), and Ashland Inc. (NYSE:ASH).
Investing Insights: Will the iPad 3 Be the Next Catalyst for Apple’s Stock?
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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