Chemicals company, DuPont(DD) saw a significant decline in profits for the fourth quarter, but beat analysts estimates on Tuesday.
The Wilmington, DE based company reported fourth quarter earnings of $111 million, or 12 cents per share, down -70% from $373 million, or 40 cents per share last year. Analysts expected earnings of 7 cents per share.
Revenue for the quarter remained flat at $7.3 billion.
For the full year, the company reported earnings of $2.8 billion, or $2.95 per share, down from last years earnings of $3.5 billion, or $3.68 per share. Revenue for the year came in at $34.8 billion, up from last years revenue of $33.7 billion.
Looking ahead, the company is expecting to see FY2013 earnings in the range of $3.85 to $4.05 per share. FY2013 sales are expected to be approximately $36 billion. Analysts are expecting EPS of $3.84 with $35.99 billion in revenue.
DuPont shares were up 41 cents, or 0.87% during premarket trading Tuesday. The stock has declined -4.9% in the past year.
The Bottom Line
Shares of DuPont (DD) have a 3.66% dividend yield, based on last night’s closing stock price of $46.99. The stock has technical support in the $42-$44 price area. If the shares can firm up, we see overhead resistance around the $48-$50 price levels.
DuPont(DD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.