American chemical company DuPont de Nemours Inc. sharply increased net income in the second quarter of this year and increased revenue by 7%, but its forecast for the third quarter disappointed investors.
DuPont’s net income in April-June 2022 was $787 million, or $1.55 per share, compared to $478 million, or $0.90 per share, for the same period last year.
Earnings excluding one-off factors were $0.88 per share.
DuPont’s revenue last quarter increased to $3.32 billion from $3.1 billion.
Analysts polled by FactSet had, on average, expected adjusted earnings of $0.75 per share on revenue of $3.26 billion.
The company expects third-quarter revenue to be slightly lower than second-quarter due to the negative impact of currency fluctuations and unscheduled plant downtime in Virginia. The consensus forecast of analysts is $3.39 billion, which provides for revenue growth of 2.1% compared to the second quarter.