DuPont has cut its second-quarter and full-year earnings outlooks, citing weak performance from its agriculture segment and, to a lesser extent, its performance chemicals unit. The company expects second-quarter earnings to fall "moderately below" the $1.28/share recorded in the year-ago quarter and has lowered its 2014 earnings forecast to $4.00-4.10/share, down from the $4.20-4.45/share guidance announced 17 April. DuPont says the revised outlook reflects lower-than-expected corn seed sales and higher-than-expected seed inventory write-downs.
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