DuPont CEO reaffirms outlook for 2009
The Associated PressDuPont's CEO Ellen Kullman said Thursday the chemical company is well positioned to outperform the market and global competitors as the economy makes a recovery.
"By delivering on the commitments we made at the start of 2009, DuPont is meeting the economic recovery as a stronger, faster and more agile global competitor," Kullman told investors at a Goldman Sachs conference.
DuPont anticipates growing its earnings per share 20 percent between 2009 and 2012 on a year-over-year basis. Despite anticipated declines in pharmaceutical royalties after patents expires, the company still anticipates 2010 earnings to increase between $2.10 to $2.40 per share. Analysts surveyed by Thomson Reuters are looking for a profit of $2.22 per share.
In the near term, Kullman backed the company's full year 2009 earnings guidance range of $1.95 to $2.05 per share. Excluding items, DuPont expects adjusted net income between $1.80 to $1.90 per share. Analysts surveyed by Thomson Reuters are looking for a profit of $2.01 per share.
Separately, Kullman expects the company to generate about 10 percent top-line compound annual growth through 2012.
Kullman has also set a goal of capturing $1 billion in fixed cost productivity and $1 billion in working capital productivity during the 2010-2012 period.
Shares of DuPont added $1.19, or 3.7 percent, to $33.38 in afternoon trading.