Chemical giant DuPont (DD) said Tuesday it expects to beat Wall Street’s expectations next year by generating EPS growth of 12% to 17%.
The upbeat forecast comes just days after the Wilmington, Del.-based company slashed its 2011 outlook due to soft demand. The new guidance sent DuPont’s stock 2% higher in early trading.
DuPont, which released the new forecast ahead of its 2011 Investor Day, said it anticipates earnings $4.20 to $4.40 in 2012, up 12% to 17% from the year before. The midpoint of that new range, $4.30, would exceed the $4.23 that analysts had been calling for.
"Our company performance, vision and growth outlook is compelling. We are in a race to deliver science-powered innovations to a world changing at an astounding pace,” CEO Ellen Kullman said in a statement.
Sales are seen ranging between $40 billion and $42 billion, compared with the Street’s view of $41.4 billion.
DuPont, which is a member of the Dow Jones Industrial Average, once again said it sees 2011 earnings jumping between 18% and 20% as revenue climbs about 20%.
“We are confident not only in our ability to make the right investments to achieve our goals, but also to have the management discipline and experience to adjust appropriately as interim economic conditions require,” Kullman said.
Wall Street lightly cheered the DuPont comments, pushing its stock up 2.05% to $44.81 shortly after the open.