DuPont finance chief reaffirms 2009 guidance

AP News
Posted: Dec 01, 2009 2:09 PM

DuPont's finance chief on Tuesday reaffirmed the manufacturing conglomerate's outlook for 20 percent compound annual earnings growth for 2009 through 2012.

Speaking at a conference sponsored by Citi, CFO Nick Fanandakis repeated the guidance offered by the chemicals company a month ago.

He said Wilmington, Del.-based DuPont expects to generate $1 billion in productivity gains this year and another $1 billion over the next three years, including $400 million in 2010.

Fanandakis also reaffirmed the company's full-year 2009 earnings outlook of $1.95 to $2.05 per share, excluding one-time items.

Analysts polled by Thomson Reuters, on average, expect profit of $2.01 per share for the year.

In afternoon trading, DuPont shares rose 73 cents, or 2.1 percent, to $35.31.