Today, DuPont reported record first quarter 2012 earnings per share (EPS) and, given strong performance driven by innovation and productivity, the company has reaffirmed its full-year earnings outlook of $4.20 to $4.40 per share, which represents 7 to 12% growth versus 2011, excluding significant items.
DuPont’s first-quarter 2012 earnings per share were $1.61, compared to $1.52 in 2011.
Sales were $11.2 billion, up 12% versus 2011. This reflects 8% higher local prices, 1% currency headwind, 2% lower volume and 7% net benefit from portfolio changes. Sales in developing markets grew 15%.
“DuPont’s market-driven science and commitment to innovation and productivity are winning in key markets, despite economic headwinds early in the first quarter,” said DuPont Chair & CEO Ellen Kullman. “Around the world, we are bringing our science closer to local markets by collaborating with customers and partners in our new DuPont Innovation Centers. We are prioritizing our R&D portfolio to deliver food, energy and protection solutions for the world's growing population.”
The table below shows year-over-year earnings per share (EPS) variances for the first quarter.