DuPont announced first quarter 2013 operating earnings per share (EPS) of $1.56 versus prior year earnings of $1.64. GAAP EPS from continuing operations was $1.47 versus $1.48 in the prior year.
Primary drivers of results for the quarter were record Agriculture operating earnings offset by an expected decline in Performance Chemicals.
“The first quarter finished as expected, with the strong Agriculture performance and Performance Chemicals’ decline from peak levels last year,” said DuPont Chair and CEO Ellen Kullman.
“Our strategies for growth and improved return on capital are working as we continue to focus on delivering science-powered innovation and industry-leading productivity improvement. We remain committed to delivering value to our shareholders as demonstrated by executing our share buyback, strengthening our balance sheet and increasing our dividend.”
Total segment operating earnings of $2.3 billion were down 8 percent, largely due to a $320 million decline (about $.26 EPS) in Performance Chemicals from last year’s high levels.
