On Air Now

Current Show

Free Talk Live   9:00 PM - 12:00 AM

Call Free Talk Live now at 1-855-450-FREE

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
59° Feels Like: 59°
Wind: WSW 0 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Clear 52°

Tomorrow

Isolated Thunderstorms 79°

Fri Night

Isolated Thunderstorms 59°

Alerts

DuPont says wet spring to hit operating profit

A view of the Dupont logo on a sign at the Dupont Chestnut Run Plaza facility near Wilmington, Delaware, April 17, 2012. REUTERS/Tim Shaffer
A view of the Dupont logo on a sign at the Dupont Chestnut Run Plaza facility near Wilmington, Delaware, April 17, 2012. REUTERS/Tim Shaffer

(Reuters) - Chemical maker DuPont said its operating profit would fall more than it expected in the first half of the year as a wet spring in North America and Europe hurt its agriculture business, sending its shares down 1.5 percent.

Dupont is focusing on food and agricultural products to cut its dependence on a weakening market for paint pigments.

The company expects its first-half operating earnings per share to be about 10 percent below last year, Chief Financial Officer Nicholas Fanandakis said in a statement on Thursday. The company had forecast a 7 to 9 percent fall in April.

"Unseasonably cool, wet weather across North America and Europe is impacting our agriculture and nutrition and health segments' second-quarter revenues and costs," Fanandakis said.

The company also expects full-year operating earnings to be at the low end of its forecast of $3.85 to $4.05 per share.

DuPont's agricultural business accounted for 45 percent of its first-quarter revenue of $10.4 billion.

The company will report second-quarter results on July 23.

The stock was trading at $53.43 on the New York Stock Exchange on Thursday morning.

(Reporting by Swetha Gopinath in Bangalore; Editing by Don Sebastian)

Comments