DuPont Records 2Q Loss, but Adjusted Profit, As Revenue Declines
30 Juli 2020 - 12:47PM
Dow Jones News
By Matt Grossman
DuPont de Nemours Inc. on Thursday reported falling revenue and
a loss in the second quarter as industrial demand fell during the
coronavirus pandemic, but the company reported a profit on an
adjusted basis that excluded impairment costs.
The Wilmington, Del.-based chemicals and specialty-materials
company saw revenue declines in its transportation and industrial
segment, where less car building contributed to an overall 34%
sales decline, and in its safety and construction segment, for
which sales were down 7% year over year.
Those declines were partially offset by rising sales in
electronics and imaging.
DuPont's net loss in the quarter was $2.48 billion, or $3.37 a
share, compared with a loss of $571 million, or 76 cents a share,
in the second quarter of 2019.
On an adjusted basis, DuPont earned a profit of 70 cents a
share, the company said. Analysts polled by FactSet had forecast
second-quarter adjusted earnings of 60 cents a share.
DuPont's revenue in the second quarter declined to $4.83
billion, from $5.47 billion in last year's second quarter.
Analysts' consensus had anticipated revenue of $4.71 billion.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
July 30, 2020 06:32 ET (10:32 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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