Sales increase at DuPont despite performance chemicals lull
US-based chemicals company DuPont has posted third-quarter net sales of $7.7 billion, a 5% year-on-year, with volumes rising 9%. These sales figures reflect a 3% percent decrease in local prices and a 1% negative currency impact.
Earnings for the performance chemicals segments fell $159 million to $254 million, with price declines for titanium dioxide, refrigerants and fluoro-polymers, along with higher raw material inventory costs, more than offsetting volume increases.
Earnings for the performance materials segment increased by $43 million – including a $30 million benefit from a joint venture – to $374 million.
Earnings for the safety and protection segment rose $24 million to $171 million, due primarily to higher volume and productivity improvements, partially offset by a weaker sales mix.
“We executed well against our plans. Third-quarter sales volumes and operating earnings were stronger across most businesses compared to a soft quarter last year,” said DuPont chair and CEO Ellen Kullman.
“While we expect overall sequential growth in industrial market demand will remain subdued, fourth-quarter operating earnings will be up substantially from last year. For the full year we are on track to deliver modest earnings growth, despite the significant decline in performance chemicals’ results.”
