DuPont  (DD) - Get Report  raised its full-year guidance as it lowered expectations for a negative currency impact following first-quarter earnings that beat analysts' estimates. 

The agriculture and chemical company raised its full-year operating earnings outlook to to $3.05-$3.20 a share, up from its previous estimate of $2.95 to $3.10. The chemicals giant said it now expects the negative currency impact to be 20 cents a share, about 10 cents lower than previously expected.

DuPont said first-quarter sales fell 5.5% from a year earlier to $7.4 billion. However, revenue topped forecasts of $7.19 billion. Profit in the quarter was $1.39 a share, up from $1.11 a year earlier.

The company is in the middle of a cost-cutting exercise ahead of its merger with Dow Chemical (DOW) - Get Report . The merger is expected to face intense regulatory scrutiny.

DuPont was the target of activist investor Nelson Peltz's Trian Fund Management last year, which wanted to nominate four directors to the board and demanded the company cut costs.

The Wilmington, Delaware-based company released its earnings ahead of schedule after it inadvertently sent a partial earnings report to reporters on Monday evening.

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