DuPont agriculture segment sales down 4% in 2014

Date:01-28-2015

Sales of DuPont’s agriculture segment, including crop protection and seed business, decreased by 4% to $1,732 million in the fourth quarter ended Dec 31, 2014. Full year sales dropped by 3.7% to $ 11,304 million y-o-y.
 
Excluding significant items, operating earnings in this quarter were $129 million, up by 46.6% versus the same period of last year. Lower corn seed sales in Brazil and a negative currency impact were more than offset by lower costs, gains from the sale of businesses of $36 million and the timing of seed shipments.

Excluding significant items, full year PTOI fell by 5.3% to $2,352 million, mainly due to lower corn seed volumes and the negative impact of currency, partially offset by higher crop protection volumes, higher local seed prices, and lower costs, including seed inputs.

DuPont's agriculture segment sales results ($ million)
Q4 Ended Dec 31	Q4 2013	Q4 2014	Change %	Full Year 2013	Full Year   2014	Change %
Sales	1,806	1,732	-4.0	11,739	11,304	-3.7
PTOI* (loss)	88	129	+46.6	2,483	2,352	-5.3
* pre-tax operating income excluding significant items