Today, DuPont reported full year and fourth quarter earnings per share (EPS).
DuPont’s 2011 earnings, before significant items, were up 20% to a record $3.93 per share versus $3.28 per share in 2010. Reported earnings per share were $3.68 versus $3.28 in 2010. Sales of $38.0 billion were up 20%, with a 27% increase in developing markets. Excluding significant items and pharmaceuticals, segment pre-tax operating income increased 31% with leading contributions from Performance Chemicals and Agriculture.
DuPont’s fourth quarter 2011 earnings per share were $.35 per share, excluding significant items, reflecting a $.23 per share year-over-year headwind from a higher tax rate. Prior year earnings were $.50 per share, excluding significant items. Reported fourth quarter 2011 earnings were $.40 per share, unchanged from the prior year.
For 2012, DuPont reaffirmed its earnings outlook range of $4.20 to $4.40 per share, which represents 7 to 12% growth versus 2011, excluding significant items.
“We delivered exceptional full-year results in 2011 despite significant market headwinds late in the year,” said DuPont Chair & CEO Ellen Kullman. “Our market-driven science continues to meet customer needs in food, energy and protection. Acquisitions in Nutrition & Health and Industrial Biosciences, coupled with robust and disciplined productivity efforts across our businesses, contributed to our successful performance. We remain well-positioned to serve customers and innovate as key markets rebound and global population growth drives new opportunities.”
The table below shows year-over-year earnings per share (EPS) variances for the fourth quarter, excluding significant items.