Date: Friday 09 Dec 2011
LONDON (ShareCast) - US chemicals firm DuPont has lowered its 2011 earnings estimate as a result of lower consumer spending in a difficult economic environment.
The science-based products and services company expects full-year earnings per share to come in between $3.87 and $3.95 excluding extraordinary items compared to its prior estimate of $3.97 - $4.05.
"We are seeing slower growth in certain segments during the fourth quarter, driven by global economic uncertainty. This uncertainty is contributing to ongoing conservative cash management in some supply chains," said chief executive Ellen Kulman.
Shares of DuPont were trading down 4.83% at $44.27 at 11:11 in New York.
S.B.
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