DuPont Posts 2Q Results

DuPont’s second quarter sales were $8.6 billion, up 26% versus the prior year. This reflects 21% higher volume, 5% higher local selling prices, a 1% benefit from currency, and a 1% reduction from portfolio changes. Emerging markets sales increased 32%.

All segments had double-digit sales increases, with more than 25% percent volume growth in the Electronics & Communications, Performance Materials, and Safety & Protection segments. Agriculture & Nutrition delivered 16% sales growth and 31% higher pre-tax earnings. North American seed business performance underpinned this growth with both price and volume increases, marking another year of solid share gains in both corn and soybeans.

Planned fixed-cost increases for Agriculture & Nutrition, higher non-cash pension expense and an asset impairment charge were partly offset by productivity projects and restructuring savings, which remain on track. Fixed costs were 38% of sales.

In the Safety & Protection segment sales rose 27% to $845 million, due to higher volume. Growth primarily reflects strengthening in industrial markets.

In the Performance Coatings sector, sales rose 15% to $962 million, with 11% higher volume and 4% higher selling prices. Higher volume reflects improving demand in global automotive OEM markets and continued improvement in North American and European industrial markets, particularly heavy-duty truck markets.

Sales in the Performance Chemicals section increased 26% to $1.6 billion, principally driven by a 19% increase in volume and 8% higher selling prices.

From: www.nonwovens-industry.com