DuPont has reported first-quarter net income of $1.1 billion, down 9.2% year over year (YOY) on higher costs related to restructuring and its merger with Dow Chemical as well as a loss from discontinued operations. Reported operating earnings were $1.4 billion, up 29% YOY on gains in all segments. All segments except protection solutions posted operating income gains of more than 10%. Reported operating earnings/share increased 30% to $1.64/share, well above analyst consensus of $1.39/share as reported by Thomson Reuters (New York). “Our team delivered strong operational performance in the first quarter,” said Ed Breen, DuPont chairman and CEO. “The strength of new product introductions and increased demand in key markets together resulted in top-line increases in almost every business.”
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