DuPont Sees Meeting Estimates

DuPont ( DD) said its third-quarter earnings should be in line with Wall Street's estimates, but that's before charges of about 42 cents a share the company expects to record.

Analysts surveyed by Thomson First Call are looking for a profit of 29 cents a share with revenue of $6.1 billion in the quarter.

The Wilmington, Del., chemicals firm said it will repatriate about $9.4 billion of cash from foreign operations by the end of the year under the American Jobs Creation Act. DuPont will record an accrual for the associated taxes of around 32 cents a share in the third quarter.

DuPont also noted that five of the company's operating sites were in the path of Hurricane Katrina. Three had minimal damage and have resumed operations. No significant structural damage occurred at the two remaining sites, but electrical systems and instrument controls were extensively affected.

The company had nine manufacturing sites in Hurricane Rita's path, but seven incurred little or no damage and have resumed operations. Two were more seriously damaged, but both are structurally sound and environmentally secure.

DuPont is estimating that third-quarter costs will amount to $150 million, or 10 a cents share, for clean-up, restoration of manufacturing operations, lost inventory and humanitarian assistance. In addition, the company believes it will need to make capital investments of around $115 million to restore or replace damaged equipment.

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