(Reuters) - Chemicals maker DuPont DD.N said it expected severe cold weather and storms in North America and business disruptions in Ukraine to hurt its first-quarter earnings and revenue.
Freezing weather across North America has delayed the start of planting season this year, while political unrest in Ukraine has hurt DuPont’s seed deliveries.
The company’s factory in the central region of Poltava in Ukraine produces maize seeds, sunflower seeds and rapeseed.
Analysts on average were expecting a profit of $1.69 per share on revenue of $10.61 billion for the first quarter ending March 31, according to Thomson Reuters I/B/E/S.
The company’s agriculture business, which is benefiting from rising demand for fertilizers, seeds and pesticides, reported an operating profit for the fourth quarter compared with a loss a year earlier.
DuPont, in a regulatory filing on Monday, also reaffirmed its operating earnings forecast of $4.20-$4.45 per share for the year ending December 31. (r.reuters.com/pyf57v)
The company’s shares fell 1 percent in extended trading on Monday. The stock closed at $67.35 on the New York Stock Exchange.
Reporting by Kanika Sikka in Bangalore; Editing by Kirti Pandey