Vine Vest North



National & World Ag News Headlines
DuPont Reports Quarter Sales, Net Earnings
USAgNet - 04/26/2017

First-quarter sales at DuPont were $7.7 billion, up 5 percent versus prior year on a 4-percent benefit from volume and a 1-percent benefit from local price. Volume grew in almost all segments, led by Performance Materials, Electronics & Communications and Agriculture. Agriculture sales were positively impacted by the change in timing of seed deliveries which benefitted first quarter sales by approximately $140 million. This timing change benefitted total company net sales by 2 percent in the quarter.

"Our team delivered strong operational performance in the first quarter, growing operating EPS by 30 percent," said Ed Breen, Chairman and CEO. "The strength of our new product introductions and increased demand in key markets together resulted in top-line increases in almost every business.

In its agriculture dividion, DuPont's operating earnings were of $1.22 billion increased $135 million, or 12 percent, on local price and volume growth. Pricing growth was realized by double-digit increases in Brazil driven by the company's newest corn hybrids and increased sunflower seed sales in Europe. Volume growth was driven by an approximately $140 million benefit from the change in timing of seed deliveries, increased insecticides and sunflower seed sales partially offset by a decrease in expected corn acreage in North America. Operating margins expanded by about 240 basis points.


Other National Headlines
TractorPumps.com
E-Z Trail Farm Wagons
Copyright © 2024 - Farms.com. All Rights Reserved.