Investing.com - U.S. chemicals giant EI DuPont De Nemours & Company reported better-than-expected fourth quarter earnings ahead of Tuesday’s opening bell, despite missing slightly on revenue figures.
DuPont said that earnings per share came in at USD0.59 during the final three months of 2013, beating expectations for earnings of USD0.55 per share. The company’s fourth quarter revenue totaled USD7.75 billion, below expectations for revenue of USD7.77 billion.
Fourth quarter results reflect strong volume growth, improved operating margins and a lower base tax rate compared to the prior year.
DuPont sees adjusted full-year 2014 earnings per share in a range between USD4.20 to USD4.45 per shares, compared to expectations for earnings of USD4.32 per share.
DuPont separately announced that its Board of Directors authorized a new USD5 billion share repurchase program, with USD2 billion expected to occur in 2014.
"Our strong fourth quarter results reflect successful execution across the company against the backdrop of a gradually improving global economy," said DuPont Chair and CEO Ellen Kullman.
Following the release of the report, DuPont shares jumped 2.2% in pre-market trade.
The outlook for U.S. equity markets was mixed. The Dow Jones Industrial Average futures indicated a gain of 0.6% at the open, S&P 500 futures pointed to a rise of 0.45%, while Nasdaq 100 futures dipped 0.35% ahead of the open.
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DuPont Q4 EPS USD0.59, vs. USD0.55 estimate
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DuPont has been revamping its operations and is gradually becoming a fast-growth, high-margin company, here is why you should take a position in the stock.
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