DuPont cuts full-year outlook
Saturday, December 10, 2011
WILMINGTON, Del. (AP) — Chemical maker DuPont is cutting its 2011 profit guidance because of weak demand for electronics as well as industrial supplies and other items.
Its shares fell $1.48, or 3.2 percent, to close at $45.04 Friday.
DuPont makes chemicals used in a wide range of products, including electronics, cars, paint, plastics, and agriculture.
The company says sales growth slowed in the quarter because of global economic uncertainty. It says some of its customers are being conservative about the way they manage cash, although it says sales for agriculture remain strong.
DuPont now expects an adjusted 2011 profit of $3.87 to $3.95 per share. That’s 10 cents per share less than the guidance it gave in late October. Analysts surveyed by FactSet had been expecting a profit of $4.04 per share.
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