DuPont Profit Tops Estimates; 2011 Forecast Raised
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DuPont Co., the third-biggest U.S. chemical maker, posted fourth-quarter earnings that beat analysts’ estimates as paint-pigment and solar-materials jumped and taxes plunged. DuPont raised its 2011 profit forecast.
Net income fell 15 percent to $376 million, or 40 cents a share, from $441 million, or 48 cents, a year earlier, Wilmington, Delaware-based DuPont said today in a statement. Profit was 50 cents a share after excluding gains related to tax accruals and restructuring and costs for a licensing accord and debt refinancing. That topped the 31-cent average estimate of 13 analysts in a Bloomberg survey. U.S. tax changes contributed to a $152 million income-tax benefit, the company said.