DuPont releases 2014 financial results

By Erin Voegele | January 29, 2015

DuPont has released financial results for the fourth quarter of 2014, reporting earnings of 71 cents per share, up from 59 cents per share during the same period of 2013. The company’s GAAP earnings from continuing operations for the quarter were $668 million, or 73 cents per share, versus $183 million, or 19 cents per share, the prior year.  

For the full year, DuPont reported operating earnings of $4.01 per share, up from $3.88 per share in 2013. GAAP earnings from continuing operations were $3.90 per share, versus $3.04 per share in 2013.

Sales for the fourth quarter were $7.4 billion, down from $7.7 billion during the same period of the prior year. The drop is attributed to portfolio changes and negative currency impacts. Sales for the full year were $34.7 billion, down from $35.7 billion. The reduction is attributed to weakness in ag markets, portfolio changes and negative currency impacts.

DuPont’s Industrial Biosciences division reported quarterly operating earnings of $49 million, up $9 million or 23 percent. For the full year 2014, the division reported operating earnings of $2.01 billion, up $42 million or 25 percent from 2013 due to increased enzyme demand, principally for ethanol production, and productively improvements.

In an investor presentation, DuPont indicated sales from recently launched enzyme offerings in ethanol, animal nutrition and food enzyme markets contributed to positive volume growth in the fourth quarter. “Ethanol industry fundamentals are adjusting to a lower energy cost environment but demand for DuPont’s novel enzymes and other functional bio products designed to increase production rates, yield and efficiency remained steady. In 2015, enzyme demand for ethanol production is expected to remain stable although ethanol producer margins are expected to transition from their peak levels in 2014,” said DuPont in the presentation.