The Dupont logo is displayed above the floor of the New York Stock Exchange, Dec. 22, 2015.
Photo: REUTERS/LUCAS JACKSON
Chemicals and seed producer DuPont reported a 5.5 percent fall in first-quarter sales mainly due to the strong dollar.
The company raised its 2016 guidance as it expects lower currency impact than expected. It now expects operating earnings of $3.05-$3.20 per share, up from $2.95-$3.10 per share it expected earlier.
DuPont also said its global cost savings and restructuring plan was on track and still expects savings of $730 million this year.
Net income attributable to the company rose to $1.23 billion, or $1.39 per share, in the first quarter, from $1.03 billion, or $1.13 per share, a year earlier.
Net sales fell to $7.41 billion from $7.84 billion.
DuPont said last month that U.S. regulators needed more time to review materials related to its merger with Dow Chemical Co.
The company said it will hold a conference call at 0800 ET Tuesday to discuss the results, which were released earlier than expected.
The company raised its 2016 guidance as it expects lower currency impact than expected. It now expects operating earnings of $3.05-$3.20 per share, up from $2.95-$3.10 per share it expected earlier.
DuPont also said its global cost savings and restructuring plan was on track and still expects savings of $730 million this year.
Net income attributable to the company rose to $1.23 billion, or $1.39 per share, in the first quarter, from $1.03 billion, or $1.13 per share, a year earlier.
Net sales fell to $7.41 billion from $7.84 billion.
DuPont said last month that U.S. regulators needed more time to review materials related to its merger with Dow Chemical Co.
The company said it will hold a conference call at 0800 ET Tuesday to discuss the results, which were released earlier than expected.
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