DuPont’s agriculture segment sales up 41% in Q3

Date:10-28-2011

DuPont’s agriculture segment, which includes agrochemicals and seed business, posted a 41% increase in sales to $ 1.368 billion in the third quarter of 2011. Volumes were up by 26% and selling prices up by 15%. DuPont note that sales boomed as a strong, early start to the Latin American season. Loss of pre-tax operating income was $ 194 million, flat comparing with the same period of last year.

For Pioneer seed, volume and price growth was delivered in both corn and soybeans. Crop Protection sales increased across all regions and market segments, led by continued strong demand for Rynaxypyr® insecticide.

Sales rose by 18.5% to $ 7.869 billion in the first nine months of this year. The agriculture segment recorded a PTOI of $ 1.743 billion, up 18% compared with the same period last year.

DuPont’s agriculture segment sales results ($ million)
Q3 ended Sept. 30th	2011	2010	% change
sales	1,368	967	+ 41
PTOI*	-194	-191	-
Nine months
sales	7,869	6,641	+18.5
PTOI*	1,743	1,478	+18
* pre-tax operating income

Given the strong performance in the third quarter, the company has raised its expectations for full-year 2011 earnings. Expectations for the fourth quarter include slowing global growth, some destocking, and the recognition that a portion of Agriculture sales in Latin America was shifted to the third quarter by the early start of the planting season.