E I Du Pont De Nemours And Co (NYSE:DD) stock was up on Tuesday following the release of its earnings report for the fourth quarter of 2016.
During the fourth quarter of 2016, DuPont reported earnings per share of 51 cents. This is an increase over its earnings per share of 27 cents from the fourth quarter of 2016. It also came in above Wall Street’s earnings per share estimate of 42 cents for the quarter.
Revenue reported by DuPont for the fourth quarter of 2016 was $5.21 billion. This has the science company’s revenue for the quarter being down 2% from what it reported during the same time last year. Analysts were expecting DD to report revenue of $5.29 billion during the fourth quarter of the year.
“Volume declined as growth in Performance Materials, Electronics & Communications and Industrial Biosciences was more than offset by declines in Agriculture, due to timing of fourth-quarter seed sales primarily due to the southern U.S. route-to-market change,” DuPont said in its earnings report for the fourth quarter of 2016. “Excluding this timing change, sales would have increased 2 percent.”
DuPont reported net income of $263 million during its fourth quarter of 2016. This is an increase over its net loss of $256 million from the same period in the year prior.
DuPont also updated its guidance in its most recent earnings report. The company is now expecting earnings per share for the first quarter of 2017 to be $1.36. Earnings per share from the same time in 2016 was $1.26. Wall Street analysts are expecting earnings per share for this period to be $1.46.
DD stock was up 4% as of Tuesday afternoon.