DuPont reported its second quarter 2014 earnings. Key points include:
- Overall sales were down 1% due to lower corn seed volumes and currency impacts, while operating earnings were down 5%.
- Several business segments saw earnings gains from higher volumes and margins, including Nutrition & Health (+72%), Industrial Biosciences (+37%), and Safety & Protection (+22%).
- Performance Materials earnings declined 9% due to a scheduled facility outage. Agriculture earnings fell 11% on lower corn seed volumes.
- The company reaffirmed its full-year operating EPS outlook of $4.00-$4.10 per share and discussed ongoing redesign initiatives and the planned Performance Chemicals spin-off.