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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




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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.