DowDuPont on Thursday reported a rise in sales and profit on an adjusted basis in its latest quarter, providing a window into the global chemicals giant's standing in its first quarterly report following the merger of Dow Chemical and DuPont.
DowDuPont debuted on the New York Stock Exchange on Sept. 1, consummating a deal that was nearly two years in the making and required significant scrutiny from regulators around the world.
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The company reported adjusted per-share earnings on a pro-forma basis of 55 cents, up from 50 cents a year earlier. Net sales on a pro-forma basis were $18.29 billion, up 7.6% from a year ago.
DowDuPont said the results reflect growing consumer-led demand in key end markets, gains on higher prices and higher equity earnings, which offset higher feedstock costs, impact from recent hurricanes and weak market conditions in agriculture.
Analysts polled by Thomson Reuters expected the company to report per-share earnings of 40 cents on $17.6 billion in revenue.
The company's full third-quarter report is due out Nov. 2.
Shares rose 2% to $72.57 in morning trading.
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(END) Dow Jones Newswires
October 26, 2017 10:33 ET (14:33 GMT)