13 WTHR - Indianapolis News |DuPont CEO reaffirms outlook for 2009
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NEW YORK (AP) - DuPont's CEO Ellen Kullman said Thursday the chemical company is well positioned to outperform the market and global competitors as the economy makes a recovery.
"By delivering on the commitments we made at the start of 2009, DuPont is meeting the economic recovery as a stronger, faster and more agile global competitor," Kullman told investors at a Goldman Sachs conference.
DuPont anticipates growing its earnings per share 20 percent between 2009 and 2012 on a year-over-year basis. Despite anticipated declines in pharmaceutical royalties after patents expires, the company still anticipates 2010 earnings to increase between $2.10 to $2.40 per share. Analysts surveyed by Thomson Reuters are looking for a profit of $2.22 per share.
In the near term, Kullman backed the company's full year 2009 earnings guidance range of $1.95 to $2.05 per share. Excluding items, DuPont expects adjusted net income between $1.80 to $1.90 per share. Analysts surveyed by Thomson Reuters are looking for a profit of $2.01 per share.
Separately, Kullman expects the company to generate about 10 percent top-line compound annual growth through 2012.
Kullman has also set a goal of capturing $1 billion in fixed cost productivity and $1 billion in working capital productivity during the 2010-2012 period.
Shares of DuPont added $1.19, or 3.7 percent, to $33.38 in afternoon trading.
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