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DuPont Reports 2Q, IH 2017 Results

Volume gains drive 5% sales growth to $15.2 billion in 1H 2017.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

DuPont announced second-quarter 2017 GAAP earnings from continuing operations of $0.97 per share and operating earnings of $1.38 per share. Prior year GAAP and operating earnings were $1.16 per share and $1.24 per share, respectively.
 
For first-half 2017, DuPont delivered GAAP earnings from continuing operations of $2.50 per share andoperating earnings of $3.02 per share. Prior-year GAAP and operating earnings per share were $2.55 and $2.50, respectively.
 
Second-quarter sales totaled $7.4 billion, up 5% versus prior year on a 6% benefit from volume partially offset by a 1% decline in local price. Volume grew in all reportable segments, led by Agriculture, Electronics & Communications and Protection Solutions. First-half sales of $15.2 billion increased 5% versus prior year on a 5% benefit from volume. Sales grew in most segments, led by Agriculture, Performance Materials and Electronics & Communications.
 
“Our increased operating earnings per share and strong sales growth of 5% were driven by volume growth from our highly productive innovation pipeline,” said Ed Breen, chairman and CEO of DuPont. “We continue to see the results of the focus, efficiency and productivity our teams are delivering as we move toward the expected August closing of the merger with Dow.”

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