The hottest DuPont's net profit in the second quar

2022-08-02
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DuPont's second quarter net profit exceeded expectations by $1.16 billion on July 27. The chemical giant Du Pont released its second quarter financial report for 2010. The report showed that DuPont's net profit for the quarter reached $1.16 billion, more than double the $417million in the same period last year, and significantly exceeded the average expectations of Wall Street analysts. DuPont also raised its annual profit expectations

DuPont earned $1.26 per share in the quarter, compared with 46 cents in the same period last year. Adjusted earnings per share was $1.17. Previously, according to the fact set R comparative research survey of no water cleaning and water cleaning, analysts expected DuPont's earnings per share in the quarter to be 93 cents on average

the net revenue reached US $8.62 billion, a year-on-year increase of 26%, thanks to the double growth of sales volume and unit price

Ellen Kullman, CEO of DuPont, said in a statement: "we have achieved sales growth in all departments. If we encounter uncertain material sources, the performance of some businesses, including electronics and titanium dioxide, significantly exceeds the level before the severe economic crisis."

performance of major business departments

the agricultural and nutrition department with the highest revenue under DuPont achieved US $3billion in the second quarter, an increase of 16% year-on-year. Although the fixed cost of the Department also increased in the second quarter, the pre tax profit of the Department still increased by 31% due to the double growth of pricing and sales volume

the electronics and communications sector saw the most significant growth. In the second quarter, the sales increased by 53% year-on-year to 657 million US dollars. DuPont said that the demand of all regions and market sectors in the world grew strongly, especially the demand for photovoltaic products, which enabled the sector to achieve this brilliant performance

the sales volume of the chemical division reached US $1.6 billion, a year-on-year increase of 26%, thanks to the strong growth of sales in North America and the Asia Pacific region

in the second quarter, the sales of DuPont's high-performance coatings and high-performance materials division increased by 15% and 45% respectively, also thanks to the growth of sales and selling prices. As high-performance coatings and high-performance materials are widely used in automobile production, the recovery of the global automobile industry has contributed to DuPont's related businesses. The sales volume of DuPont safety and protection department in the second quarter also increased by 27%. Chinese scholars attended the Sixth International Conference on friction and fatigue

Asia Pacific market led growth

DuPont achieved growth in all major markets in the world in the second quarter

among them, the sales of Asia Pacific region in this quarter increased by 47% year-on-year, leading the growth of major regions, followed by the Canadian market, with an increase of 30%. Sales in Europe and the United States increased by 24% and 18% respectively

DuPont also raised its 2010 full year earnings per share forecast to US $2.90 to US $3.05 after deducting Department items, while DuPont had previously raised its forecast to US $2.50 to US $2.70. DuPont said that the increase in profit expectation reflected the strong growth in the second quarter, as well as "the further improvement of the medium-term business development trend and the continuous improvement of productivity". According to fact set research, analysts expect DuPont's annual earnings per share to be $2.64 on average

after the announcement of the financial report, DuPont's share price surged 4.4% to $40.70

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