DuPont agriculture sales down 4% in Q3 2014

Date:11-03-2014

Sales of DuPont’s agriculture segment, including crop protection and seed business, fell by 4.3% to $1,563 million in the third quarter ended September 30, 2014. The PTOI loss was seen ($55 million) in the third quarter. For the nine months of 2014, sales were down by 3.6% to $9,572 million, and PTOI (excluding significant items) dipped by 2.9% to $2,176 million.
 
The seasonal operating loss due primarily to lower seed input costs and operating cost improvements, partially offset by lower sales and the absence of the prior year $26 million gain from the acquisition of a controlling interest in Pannar.  Increases in insecticide and fungicide volumes, mainly in Latin America, were more than offset by lower corn seed and herbicide volumes and lower corn seed price.

DuPont's agriculture segment sales results ($ million)
Q3 Ended Sep 30	Q3 2014	Q3 2013	Change %	Nine-month 2014	Nine-month 2013	Change %
Sales	1,563	1,633	-4.3	9,572	9,933	-3.6
PTOI* (loss)	(55)	(62)	-	2,223	2,395	-7.2
PTOI* excluding significant items (loss)	(55)	(102)	-	2,176	2,240	-2.9
* pre-tax operating income