DuPont cautious on 2012, Q2 net profit falls

Tue Jul 24, 2012 6:57am EDT

A view of the Dupont logo on a train car at the Dupont Edge Moor facility near Wilmington, Delaware, April 17, 2012. REUTERS/Tim Shaffer

A view of the Dupont logo on a train car at the Dupont Edge Moor facility near Wilmington, Delaware, April 17, 2012.

Credit: Reuters/Tim Shaffer

(Reuters) - DuPont and Co (DD.N), which makes hybrid seeds, a critical pigment for paint and Kevlar bulletproof fiber, now expects 2012 profit to be at the low end of its forecast, due in part to economic uncertainty circling the globe.

The new forecast, for earnings at the "lower end" of the range of $4.20 to $4.40 per share, came after the company posted higher-than-expected quarterly profit.

Details were sparse in a press release on Tuesday announcing quarterly results, but Ellen Kullman, DuPont's chief executive, said: "Our teams continue to executive well in a dynamic environment."

DuPont reported second-quarter net income of $1.18 billion, or $1.25 per share, compared with $1.22 billion, or $1.29 per share, in the year-ago period.

Excluding one-time items, the company earned $1.48 per share during the second quarter. By that measure, analysts expected $1.46, according to Thomson Reuters I/B/E/S.

Revenue rose 8 percent to $11.28 billion. Analysts looked for $11.27 billion.

(Reporting by Ernest Scheyder in New York; editing by Lisa Von Ahn and Jeffrey Benkoe)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article