News > Companies
DuPont raises 3Q guidance
Chemical maker says lower tax bill will allow it to beat top analysts forecasts for period.
October 3, 2002: 9:00 AM EDT

NEW YORK (CNN/Money) - DuPont Co. said Thursday it will top the most optimistic Wall Street forecasts for the third quarter earnings, citing lower-than-expected taxes for most of the improvement.

The chemical maker said it expects to earn 35 cents to 37 cents a share excluding special items, up from 12 cents on the same basis a year earlier. Analysts surveyed by First Call had a consensus EPS forecast of 28 cents, ranging from 24 cents to 33 cents.

The company had previously said it expected to earn 24 cents a share in the period.

The nation's No. 2 chemical company said a lower provision for income taxes is the reason for most of the upward change in guidance. It said it is also seeing a modest improvement in pre-tax operating results.

Shares of DuPont (DD: Research, Estimates), a component of the Dow Jones industrial average, were up 98 cents to $38.33 in pre-market trading on Instinet following the announcement. Shares lost $2.32, or 6 percent, Wednesday following an earnings warning from No. 1 chemical company Dow Chemical (DOW: Research, Estimates).  Top of page

  More on NEWS
Fun with fuel cells: Go off the grid, for good
The great pumpkin shortage of 2015
University of Phoenix banned from recruiting at military events
Millennials are buying homes here
The great pumpkin shortage of 2015
Truck drivers wanted. Pay: $73,000

graphic graphic