Wilmington, Delaware, USA
April 25, 2017

First-Quarter Highlights

• GAAP earnings per share increased 9 percent to $1.52 from $1.39 in prior year. Operating earnings per share increased 30 percent to $1.64 from $1.26 in prior year.
   
• Sales of $7.7 billion increased 5 percent on a 4-percent benefit from volume and a 1-percent benefit from local price. Sales grew in most segments, led by Agriculture, Performance Materials, and Electronics & Communications.
   
• Agriculture sales increased 4 percent reflecting benefits from local price and volume. Pricing growth was driven by double-digit gains in Latin America, the launch of new soybean varieties in North America and increased sunflower seed sales in Europe. Volume growth was driven by the change in timing of seed deliveries and increased insecticide and sunflower seed volumes, partially offset by lower expected corn acreage in North America.
   
• Total company gross margin expanded by more than 80 basis points. Segment operating margins expanded by about 250 basis points, led by improvements in Electronics & Communications, Performance Materials and Agriculture.
   
• Free cash flow improved over $200 million.
   
• DuPont expects first-half 2017 GAAP earnings per share of about $2.42, a decrease of about 5 percent versus prior year. First-half 2017 operating earnings per share are expected to be about $2.90, an increase of about 16 percent versus prior year.

Full release

Website: http://www.dupont.com

Published: April 25, 2017