August 1, 2019 / 10:22 AM / 20 days ago

DuPont quarterly sales miss estimates on lower volumes

Aug 1 - Chemical company DuPont reported lower-than-expected quarterly sales on Thursday, as a 5% dip in volumes more than offset the benefit from higher pricing.

The company, the industrial chemicals business of conglomerate DowDupont until a split earlier this year, said net sales for the second quarter totaled $5.5 billion, compared with analysts’ estimates of $5.63 billion, according to IBES data from Refinitiv.

DuPont posted a loss from continuing operation of $1.1 billion, or $1.48 per share, in the latest quarter, mostly attributable to goodwill impairment and an income tax charge. It had posted a pro forma loss of $11 million, or 2 cents per share, a year earlier. (Reporting by Nishara Karuvalli Pathikkal and Arathy S Nair in Bangalore; Editing by Anil D’Silva)

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