August 2, 2018 / 10:02 AM / 17 days ago

DowDuPont sales rise 17 pct on strong demand across all businesses

Aug 2 (Reuters) - U.S. chemicals producer DowDuPont Inc’s second-quarter sales rose 17 percent, helped by strong growth across all its businesses and the launch of new products.

Sales from its biggest revenue generator - materials science business, which makes chemicals used in cosmetics, packaging material, and brake fluids, rose 18 percent to $12.6 billion.

The company, formed after chemical giants Dow Chemical and DuPont merged last year, has launched new packing materials, components for laundry detergents and a new seed variety, Chief Financial Officer Howard Ungerleider said on a call before earnings.

“Our new product launches are resonating with customers, resulting in strong demand across each of our targeted end-markets,” DowDuPont CEO Ed Breen said.

Net sales rose to $24.2 billion, which the company said compares with net sales of $20.7 billion that DowDuPont would have made had it been one company in the same quarter a year earlier.

Adjusted earnings came in at $1.37 per share, an increase of 41 percent.

Dow and DuPont completed their $130 billion merger last September. It then made changes to operations in the three units it plans to create, under pressure from investors to run the business more efficiently. (Reporting by Laharee Chatterjee in Bengaluru Editing by Supriya Kurane)

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