DuPont Earnings Double

The chemical giant affirms its 2005 guidance.
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DuPont's

(DD) - Get Report

second-quarter earnings roughly doubled from a year ago, as the absence of some hefty charges and more-profitable sales aided the bottom line.

The company earned $1.02 billion, or $1.01 a share, in the quarter, compared with $503 million, or 50 cents a share, last year. The latest quarter included 11 cents a share of gains while the year-ago period had 30 cents a share of charges. Sales were $7.51 billion compared with $7.53 billion a year ago.

Analysts surveyed by Thomson First Call were forecasting earnings of 96 cents a share on sales of $7.67 billion.

In a release, DuPont said its second-quarter pretax operating margin rose by 1.4 percentage points from a year ago, reflecting local price increases of 6%, which more than offset higher energy and ingredient costs. Volume was flat, with strong growth in Asia, Latin America and Eastern Europe offset by U.S. and Western Europe.

The

Dow

component expects to earn $2.75 to $2.80 a share in all of 2005, including 11 cents a share of gains. The Thomson First Call consensus is $2.76 a share.

The stock closed at $44.04 Monday.