Summary
E.I. du Pont de Nemours and Company (DuPont) reported strong financial results for the nine months ended September 30, 2011, driven significantly by the acquisition of Danisco A/S in May 2011. Net sales increased by 23% to $29.5 billion, and net income attributable to DuPont rose by 17% to $3.1 billion. This growth was fueled by a 15% increase in selling prices and a 4% increase in sales volume, with the Danisco acquisition contributing significantly to the portfolio change. The company successfully navigated integration challenges and has revised its full-year 2011 earnings outlook upward. Despite increased debt from financing the Danisco acquisition, DuPont's liquidity remains strong, supported by cash from operations and access to credit markets. The company continues to focus on key growth areas and productivity programs to maintain a strong financial position.
Financial Highlights
49 data points| Revenue | $8.14B |
| R&D Expenses | $546.00M |
| SG&A Expenses | $809.00M |
| Operating Expenses | $7.85B |
| Operating Income | $778.00M |
| Interest Expense | $116.00M |
| Net Income | $460.00M |
| EPS (Basic) | $0.48 |
| EPS (Diluted) | $0.48 |
| Shares Outstanding (Basic) | 932.36M |
| Shares Outstanding (Diluted) | 943.49M |
Key Highlights
- 1Net sales for the nine months ended September 30, 2011, increased by 23% to $29.5 billion, compared to $24.1 billion in the prior year.
- 2Net income attributable to DuPont for the nine months ended September 30, 2011, increased by 17% to $3.1 billion, compared to $2.7 billion in the prior year.
- 3The acquisition of Danisco A/S in May 2011 was a major event, contributing significantly to sales growth and expanding DuPont's footprint in industrial biotechnology and specialty food ingredients.
- 4Third-quarter earnings growth was notably strong, driven by the Titanium Technologies business due to high demand and tight global supply for titanium dioxide.
- 5The company revised its full-year 2011 earnings outlook upwards, now expecting $3.64 - $3.74 per share.
- 6Total debt increased significantly due to financing the Danisco acquisition, rising from $10.3 billion to $15.5 billion.
- 7Cash provided by operating activities for the nine months increased substantially to $431 million, up from $35 million in the prior year, indicating improved operational cash generation.