DuPont Earnings Drop, but Raises Outlook

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DuPont (DD) reported third-quarter earnings of 40 cents per share, down from 45 cents per share a year earlier.

Sales grew 17% from a year earlier to $7 billion, the company said in a statement. Sales grew 22% in emerging markets.

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The company saw a decline of 13 cents per share in pharmaceuticals income related to patent expirations.

"I am proud of our business teams' performance this quarter, with segment pre-tax earnings up 33 percent excluding Pharmaceuticals income," said CEO Ellen Kullman. "This quarter's results were complemented by ongoing productivity improvements and rigorous cost management that contributed to profitable growth."

DuPont raised its guidance for 2010 earnings, forecasting earnings of about $3.10 per share, excluding significant items. The company previously forecast earnings of $2.90 to $3.05 per share.
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