Shares of DuPont (DD) are up 3% after the U.S. chemical company reported better-than-expected third-quarter financial results.
The Wilmington, Delaware-based company announced earnings per share (EPS) of $1.18 U.S., which beat Wall Street forecasts of $1.03 U.S.
Revenue in the third quarter totaled $3.2 billion U.S., which matched consensus estimates among analysts. Sales were up 3% from a year earlier.
DuPont’s management team said that comparable sales in the company’s electronics and industrial segment rose 10% year-over-year.
That gain was partially offset by a 2% decline in sales at the company’s water and protection segment. Nevertheless, profit margins at DuPont improved by almost one full percentage point.
In terms of guidance, DuPont said that it expects a profit in the current fourth quarter of the year of $0.98 U.S. on sales of $3.1 billion U.S., which is inline with analyst forecasts.
Before today (Nov. 5), the stock of DuPont had risen 6% this year to trade at $81.85 U.S. per share.
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