DuPont Guides Q3 Adj. EPS In Line With View – Quick Facts
While reporting financial results for the second quarter on Thursday, DuPont (DD) provided adjusted earnings and sales growth guidance for the third quarter.
For the third quarter, the company projects adjusted earnings in a range of $0.71 to $0.73 per share on a slight sequential growth in sales.
On average, 13 analysts polled by Thomson Reuters expect the company to report earnings of $0.71 per share on a sales decline of 7.5 percent to $5.02 billion for the quarter. Analysts’ estimates typically exclude special items.
The company expects sales to improve in automotive and residential construction mostly offset by seasonal patterns in Nutrition & Biosciences as well as the impact of supply constraints across its Tyvek enterprise as it performs routine maintenance on the assets. Oil & gas, aerospace, industrial, and commercial construction markets will remain challenged.
The company had suspended its financial guidance for the full-year 2020 in April, due to global softening in automotive, oil & gas and select industrial end-markets as well as the unknown duration and intensity of the pandemic.
Over the next six months, the company will continue the integration planning work with IFF to enable a smooth, successful launch and position the future combined company to achieve its committed cost and revenue synergies.
Nasa launch LIVE: Mars alien-hunting Perseverance robot launched TODAY – latest updates
Nasa is NASA is sending a rover to Mars today in a bold bid to hunt down signs of alien life on the planet's surface.
Should today's launch go to plan, Perseverance, which is part of a Nasa mission dubbed Mars 2020, will touch down on the Red Planet next year.
Its scheduled for launch at 11.50am.
Follow our live blog below for all the latest news and updates…
Magnitude 4.3 Earthquake Rocks Los Angeles’ San Fernando Valley
Los Angeles residents were given a rude awakening circa 4.30AM this morning when a 4.3 magnitude earthquake hit the city. A smaller second shake registered 3.3 shortly after.
The quake’s epicentre was near San Fernando Valley. Many notable residents were rocked out of bed and took directly to Twitter, including Tyra Banks, Zach Braff, rapper Lil Nas, Queer Eye presenter Karamo, and Youtuber Lilly Singh.
Rupee settles 4 paise lower at 74.84 against U.S. dollar
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.13% to 93.57
The rupee fell 4 paise to close at 74.84 (provisional) against the U.S. dollar on Thursday tracking weak domestic equities and strong American currency.
At the interbank forex market, the rupee opened at 74.84 and during the session fluctuated between an intra-day high of 74.80 and a low of 74.88 against the U.S. dollar.
The domestic unit finally closed at 74.84 against the greenback, down 4 paise over its previous close 74.80.
Forex traders said rupee was trading on a muted note after the U.S. Federal Reserve reiterated its dovish stance and held interest rates steady. Further, weak domestic equities weighed on investments sentiments.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.13% to 93.57.
On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 240.57 points lower at 37,830.56 and broader NSE Nifty fell 73.90 points to 11,128.95.
Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹352.62 crore on Wednesday, according to provisional exchange data.
Brent crude futures, the global oil benchmark, fell 0.91% to $43.35 per barrel.
California earthquake: Los Angeles rocked by powerful 4.3 magnitude quake
We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.
Residents in California were rocked by a strong 4.3 magnitude earthquake this morning.
The quake hit at around 3.30am local time, with a second shake registering shortly after.
This is a breaking story…more to follow
Kellogg Raises Full-year Guidance – Quick Facts
Kellogg Company (K) said, for fiscal 2020, currency-neutral adjusted earnings per share is now estimated to decrease by approximately 1% year on year, from previous guidance of a decline in a range of 3-4%. Currency-neutral adjusted operating profit growth is now projected at a decline of approximately 1% year on year, an improvement from previous guidance of a decline of 4%.
For 2020, organic net sales growth is now expected at approximately 5% year on year, up from previous guidance of +1-2%.
For 2020, net cash provided by operating activities is now expected at $1.6 billion, the high end of the previous guidance range of $1.5-1.6 billion, with capital expenditure of approximately $0.6 billion. Cash flow is now anticipated at approximately $1 billion, the high end of the previous guidance range of $0.9-1.0 billion.
Second quarter adjusted earnings per share was $1.24 compared to $0.99, previous year. Currency-neutral adjusted earnings per share was $1.26 compared to $0.99. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.94, for the quarter. Analysts’ estimates typically exclude special items. On an adjusted basis, operating profit increased by over 24%. Excluding currency translation, adjusted operating profit increased by approximately 27%.
Second quarter net sales were $3.47 billion, up 0.1% from a year ago. Organic net sales were $3.57 billion, an increase of 9.2%, for the quarter. Analysts expected revenue of $3.3 billion for the quarter.
Shares of Kellogg Company were up nearly 5% in pre-market trade on Thursday.