DuPont Tops Earnings Views on Cost Cuts

Updated from 6:23 a.m. EDT

WILMINGTON, Del. (TheStreet) -- DuPont(DD Quote), the chemical giant, reported third-quarter earnings of $409 million, or 45 cents a share, higher than results a year ago and above the expectations of analysts.

Cost cuts boosted third-quarter pretax earnings by about $300 million, bringing cost reductions year to date to $900 million. The company's full-year goal is $1 billion.

Revenue in the quarter fell to $6.16 billion from $7.72 billion a year earlier. The sales shortfall reflects 12% lower volume, Dupont said in a press release Tuesday.

Analysts surveyed by Thomson Reuters expected DuPont to report earnings of 33 cents a share on revenue of $6.14 billion.

DuPont revised its full-year 2009 earnings outlook to a range of $1.95 to $2.05 share, excluding items. It had previously forecast earnings of $1.70 to $2.10 a share.

Analysts expect 2009 earnings of $1.83 a share.

-- Reported by Joseph Woelfel in New York .

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