DuPont CFO Addresses Deutsche Bank Conference Fanandakis Highlights Strategic Priorities to Increase Shareholder Value; Updates 2Q and 2013 Operating EPS PR Newswire CHICAGO, June 13, 2013 CHICAGO, June 13, 2013 /PRNewswire/ -- At the Deutsche Bank Global Industrial and Basic Materials conference today, DuPont (NYSE: DD) Executive Vice President and Chief Financial Officer Nicholas C. Fanandakis reported that DuPont's goal is to generate superior shareholder returns and increase the value of the company by aggressively advancing its three strategic priorities: oExtending its leadership in high-value, science-driven segments of the agriculture-to-food value chains; oStrengthening and growing DuPont's leading position as a provider of differentiated, high-value advanced materials, and; oDeveloping world-leading industrial biotechnology capabilities that create transformational, new bio-based businesses. "Our strategic priorities are clear and we are aggressively advancing them to continue delivering shareholder value," Fanandakis said. "We are on track with our three operational priorities: increasing return on innovation, expanding our global reach and continuing to deliver significant productivity gains. "We are leveraging our science capabilities across businesses and markets to address some of the world's most pressing challenges. Science is the growth engine of DuPont. Our integrated science gives us an advantage unlike any other company to deliver value to customers and shareholders," Fanandakis said. Fanandakis also addressed current business conditions. "Unseasonably cool, wet weather across North America and Europe is impacting our Agriculture and Nutrition & Health segments' second-quarter revenues and costs. March to May 2013 has been the wettest spring in nearly 120 years across the farm belt states of Iowa, Illinois and Indiana," Fanandakis said. As a result, the company expects its first half operating EPS to be about 10 percent below last year versus the 7-9 percent lower year-over-year outlook communicated April 23. For the full-year 2013, DuPont expects operating EPS to be at the low end of its previously issued guidance range of $3.85 - $4.05 per share, based on anticipated improvement in global industrial market demand. DuPont will report its second-quarter financial results on July 23. Webcast Information Fanandakis presents today at the Deutsche Bank Global Industrial and Basic Materials conference at 1:30 p.m. central time (CT). The webcast recording of today's presentation will be available later this afternoon at the Investor Center at dupont.com. DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com. Use of Non-GAAP Measures: Management believes that certain non-GAAP measures are meaningful to investors because they provide insight with respect to ongoing operating results of the company. Such measurements are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance. Reconciliations of non-GAAP measures to GAAP are provided in the attached Schedule A. Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; seasonality of sales of agricultural products; and severe weather events that cause business interruptions, including plant and power outages, or disruptions in supplier and customer operations. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information. Schedule A Reconciliation of Operating Earnings Per Share (EPS) Outlook The reconciliation below represents the company's outlook on an operating earnings basis, defined as earnings from continuing operations excluding significant items and non-operating pension/OPEB costs. Second Quarter Year Ended December 31 2013 Outlook 2012 Actual 2013 Outlook 2012 Actual Operating EPS $ $ $ $ 3.77 1.27 1.50 3.85 Significant items Tax items (0.06) - (0.02) - Sale of an equity - 0.08 - 0.08 method investment Customer claims (0.04) (0.18) (0.06) (0.39) charges Restructuring - - - (0.17) charge/adjustments Litigation settlement - (0.13) - (0.13) Asset impairment - - - (0.19) charge Sale of business - - - 0.08 Non-operating (0.11) (0.12) (0.40) (0.46) pension/OPEB costs Impact of LIFO - - - 0.02 accounting change ___________ __________ __________ ___________ EPS from continuing $ $ $ $ operations (GAAP) 1.06 1.15 3.37 2.61 SOURCE DuPont Website: http://www.dupont.com Contact: Michael Hanretta, 302-774-4005, firstname.lastname@example.org or Investors Contact: 302-774-4994
DuPont CFO Addresses Deutsche Bank Conference
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