DuPont Lowers Operating Earnings Outlook for 2Q and 2014

           DuPont Lowers Operating Earnings Outlook for 2Q and 2014

Company Provides Additional Details of Redesign Initiative

Anticipates At Least $1 Billion in Savings

PR Newswire

WILMINGTON, Del., June 26, 2014

WILMINGTON, Del., June 26, 2014 /PRNewswire/ -- Today DuPont announced that
the company is revising its outlook for operating earnings per share for the
second quarter and full year 2014, due primarily to lower than expected
quarterly performance of its Agriculture and, to a lesser extent, Performance
Chemicals segments. The company expects operating earnings in the second
quarter to be moderately below the $1.28 per share recorded in the same period
last year. As a result, the company is lowering its full-year outlook for
operating earnings to $4.00 to $4.10 per share.

The revised outlook in Agriculture reflects lower than expected corn seed
sales and higher than expected seed inventory write-downs. Given favorable
soybean economics, soybean sales volumes in North America are higher than
expected. However, the higher soybean volume will not fully offset the decline
in corn volume, especially given the transition under way in the company's
soybean lineup to newer, higher performing products. The company believes
this is a short-term negative trend, and there will be strong demand for its
next generation soybean products. The revised outlook also reflects lower than
expected crop protection herbicide sales, largely due to weather.

"While 2014 is a transition year in agriculture, the revisions to the outlook
we made today do not meet the expectations we set for our Agriculture segment
or for the company," said DuPont Chair and CEO Ellen Kullman. "We have a
strong global market position and a rich pipeline and we will make the
necessary changes so that we return to our five-year track record of
delivering the reliable, attractive growth our shareholders expect from this

Performance Chemicals second quarter results will be impacted by lower than
expected selling prices in refrigerants for mobile and stationary

Additional Details Provided on Company's Redesign Initiative

Separately, DuPont disclosed more details today of its previously communicated
efforts to streamline support for its more focused portfolio of businesses
following the separation of the Performance Chemicals segment expected in

This redesign initiative will deliver near-term savings from the movement and
elimination of costs related to the separation as well as productivity
improvements across all businesses, regions and functions. Additionally, an
extensive redesign of DuPont's infrastructure, with a focus on automation and
global standardization of transactional processes, will create a lower-cost
systems environment and define new sources of savings as these changes are
implemented broadly across the company.

"We have a unique opportunity now to reset our operating model to optimize
both our effectiveness and efficiency, consistent with the purpose, strategy
and needs of DuPont in 2015 and beyond," said Kullman.

The company expects to record a restructuring charge of about $270 million
pre-tax, or $.20 per share, after tax, in the second quarter of 2014 related
to the first actions under the redesign initiative. The company anticipates
that it will incur future charges related to the initiative as it implements
additional actions.

"Together, all of these efforts will contribute to at least $1 billion in
savings by the end of 2019 from a 2013 baseline – two-thirds by the end of
2015 on a run-rate basis and the final third occurring between 2016 and 2019,"
said Kullman.

DuPont will hold a conference call and webcast on Thursday, June 26, 2014, at
5:00 pm EDT to discuss this news release. The call can be accessed by dialing
1-630-691-2760, confirmation number 37600125. Alternatively, the webcast can
be accessed by visiting the company's investor website at A replay of the conference call webcast will be
available for 30 days by calling 1-630-652-3042, Passcode 3760 0125#.

For additional information see the investor center at
DuPont will report its second quarter financial results on July 22 and expects
to provide additional information regarding management's expectations for the
second half of 2014 at that time.

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

Forward-Looking Statements: This news release contains forward-looking
statements which may be identified by their use of words like "plans,"
"expects," "will," "believes," "intends," "estimates," "anticipates" or other
words of similar meaning. All statements that address expectations or
projections about the future, including statements about the company's growth
strategy, product development, regulatory approval, market position,
anticipated benefits of acquisitions, outcome of contingencies, such as
litigation and environmental matters, expenditures and financial results, are
forward-looking statements. Forward-looking statements are not guarantees of
future performance and are based on certain assumptions and expectations of
future events which may not be realized. Forward-looking statements also
involve risks and uncertainties, many of which are beyond the company's
control. Some of the important factors that could cause the company's actual
results to differ materially from those projected in any such forward-looking
statements are: fluctuations in energy and raw material prices; failure to
develop and market new products and optimally manage product life cycles;
significant litigation and environmental matters; failure to appropriately
manage process safety and product stewardship issues; changes in laws and
regulations or political conditions; global economic and capital markets
conditions, such as inflation, interest and currency exchange rates; business
or supply disruptions; security threats, such as acts of sabotage, terrorism
or war, weather events and natural disasters; ability to protect and enforce
the company's intellectual property rights; successful integration of acquired
businesses and separation of underperforming or non-strategic assets or
businesses and successful completion of the proposed spinoff of the
Performance Chemicals segment including ability to fully realize the expected
benefits of the proposed spinoff. The company undertakes no duty to update
any forward-looking statements as a result of future developments or new

Use of Non-GAAP Measures
Management believes that certain non-GAAP measurements 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 generally accepted accounting principles (GAAP) and should not be viewed
as an alternative to GAAP measures of performance. Reconciliations of
non-GAAP measures are provided below.

Reconciliation of Operating Earnings Per Share (EPS) Outlook
The reconciliation below represents the company's 2014 outlook, 2013 full year
and 2013 second quarter on an operating earnings per share basis, defined as
earnings from continuing operations excluding significant items and
non-operating pension/OPEB costs.

                                    Year Ended December 31,    Three Months
                                    2014         2013 Actual   June 30, 2013
Operating EPS                       $4.00 -      $        $       
                                    $4.10        3.88          1.28
2014 estimated significant items*   (0.09)       -             -
2013 significant items**            -            (0.45)        (0.08)
Non-operating pension/OPEB costs*** (0.09)       (0.39)        (0.10)
EPS from continuing operations      $3.82 -     $        $       
(GAAP)                              $3.92        3.04          1.10
* 2014 estimated significant items includes: (a) full year 2014 transaction
costs associated with the separation of the Performance Chemicals segment of
$(0.13), (b) gain on the sale of Glass Laminating Solutions/Vinyls of $0.30,
(c) restructuring charge of $(0.20), and (d) Venezuela devaluation charge of
**For detail of 2013 significant items, please see 2013 quarterly earnings
news releases for DuPont available at
***Non-operating pension/OPEB costs for 2014 Outlook represents current


Contact: Media Contact: Gregg M. Schmidt, 302-774-4005, or Investor Contact: 302-774-4994
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