DuPont fourth-quarter profit beats on higher prices

  • Reuters
  • Stock Market News
DuPont fourth-quarter profit beats on higher prices
Credit: © Reuters.

(Reuters) -Industrial materials maker DuPont (NYSE: DD ) de Nemours Inc reported a fourth-quarter profit on Tuesday that beat analysts' estimates, as higher pricing for its products helped offset an increase in costs.

The company has been increasing prices to tackle rising costs for raw materials and energy.

Prices of U.S. natural gas , a key input, averaged $6.10 per million metric British thermal units during the October-December quarter, nearly 26% higher from a year earlier.

Sales from the electronics and industrial unit, one of the company's highest revenue generating segments, fell 8% to $1.34 billion in the reported quarter, while the water and protection segment raked in $1.5 billion, up 6% from a year earlier.

© Reuters. FILE PHOTO: A logo is pictured outside of Dupont offices in Geneva, Switzerland, April 15, 2021. REUTERS/Denis Balibouse/File Photo

DuPont's net sales fell 4% to $3.1 billion in the quarter, compared with analysts' estimates of $3.09 billion, according to Refinitiv IBES data.

On an adjusted basis, the company earned 89 cents per share, beating estimates of 78 cents per share.

 

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