DuPont Co. said its first-quarter earnings fell 57% as the chemicals and agricultural-products company reported that growth in most of its businesses was offset by harsh weather and shifts in agriculture.
DuPont said that in the latest quarter, adverse weather reduced per-share earnings by an estimated seven cents owing to increased operating costs and lost sales.
In its agriculture business, volume growth in the Americas was constrained by shifts in the timing and planted area as well as harsh weather. However, volume improved in each of DuPont's industrial related segments.
In the latest quarter, the agricultural business reported sales fell 6% to $4.39 billion.
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DuPont needs to modernize and shift to more profitable lines of business. Welfare, for example.
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