Chemicals leader DuPont (DD) posted stronger-than-expected results in the third quarter but warned of weakness for the current quarter amid a weakening economy. 

DuPont, which is one of 30 members of the Dow, earned $367 million, or 40 cents per share, compared with $526 million, or 56 cents per share, a year ago. The company’s sales jumped 9% last quarter to $7.3 billion.

Excluding a one-time hurricane-related charges of $227 million, DuPont’s earnings fell to 56 cents from 59 cents a share a year ago.

Analysts had been forecasting a profit of 51 cents per share on $7.07 billion in sales.

Shares were down more than 4% in premarket trading to $34.39.

"Our businesses performed well in the third quarter despite hurricanes and slower economies around the world, reflecting the strong position of our science-based products in production agriculture, photovoltaics and emerging markets," CEO Charles O. Holliday, Jr. said in a statement.

Looking ahead, DuPont lowered its full-year earnings forecast to a range of $3.25 to $3.30 per share. That view is significantly lower than mean analyst estimates for $3.49 per share.

"Our leadership teams around the world are actively engaged with customers and suppliers, making appropriate and timely adjustments to any changes in demand," Holliday said. "We enter these challenging times in a better position than any prior economic slowdown. Our cash position, borrowing capability, and balance sheet are strong and we remain intensely focused on our operating cash flows."

Citing weakening demand in North America and Western Europe, DuPont sees fourth-quarter earnings of 20 cents to 25 cents per share. That outlook includes a 10-cent charge due to hurricane-related business interruptions.

Analysts had been predicting a stronger forecast of 50 cents per share for the current quarter.

The company said its higher selling prices easily offset a 16% increase in raw material, energy and freight costs.

While DuPont’s sales jumped by 20% in Latin America and Canada and by 15% in the Asia Pacific region, sales declined by 2% to $2.3 billion domestically.

The chemicals giant saw a 25% jump in sales in emerging markets, contributing to 16% of its sales growth from outside the U.S.

DuPont’s shares have slid 17% year-to-date, outperforming the 30% decline of the Dow.