DowDuPont stock was on the move Thursday following the release of its earnings report for the third quarter of 2018.
DowDuPont’s (NYSE:DWDP) earnings report for the third quarter of the year includes earnings per share of 74 cents. This is an increase over its earnings per share of 55 cents from the same time last year. It was also a boon to DowDuPont stock by coming in above Wall Street’s earnings per share estimate of 71 cents for the quarter.
During the third quarter of 2018, DowDuPont reported net income of $535 million. This is just barely better than the company’s net income of $534 million reported in the third quarter of 2017.
Operating income reported by DowDuPont for the third quarter of the year came in at $855 million. The American chemical company reported operating income of $1.13 billion for the same period of the year prior.
DowDuPont also reported revenue of $20.12 billion for the third quarter of 2018. This is up from the company’s revenue of $13.35 billion that was reported in the third quarter of the previous year. While this comes in below analysts’ revenue estimate of $20.23 billion for the period, it wasn’t enough to bring DowDuPont stock down today.
“Going forward, we remain well positioned to continue to drive top-line gains from above-GDP demand growth for our products and new product launches, while further delivering productivity and cost synergy savings,” Howard Ungerleider, CFO of DowDuPont, said in a statement.
DWDP stock was up 6% as of noon Thursday, but is down 25% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
