Advertise Here [468 W x 60 H pixels]
Web Exclusive | May 2018

DowDuPont’s net sales up 5%

DowDuPont has reported the first quarter 2018 results. DowDuPont’s net sales increased 5 per cent to $21.5 billion, with growth in most operating segments and geographic regions, from pro forma net sales of $20.5 billion in the year-ago period. The Materials Science division increased sales 17 percent, with double-digit gains in all segments and gains in all regions. The Speciality Products division increased sales 11 per cent, with gains in most segments and all regions. These increases more than offset a decline in Agriculture sales of 25 per cent driven by weather-related delays to planting seasons in the Northern Hemisphere and Brazil. Net sales included a 4 percent benefit from currency, primarily from the Euro.

Volume declined 2 percent on a pro forma basis from the year-ago period, due to a weather-related shift in Agriculture. The Materials Science division increased volume 8 percent, with gains in most segments and all regions. The Speciality Products division increased volume 3 percent, with gains in all segments and most regions.

The Company achieved cost synergy savings of more than $300 million in the first quarter, ahead of its run-rate plan and now on pace to deliver a 75 percent run-rate against its $3.3 billion cost synergy commitment by the end of the third quarter of 2018.
“We delivered solid first-quarter sales and operating earnings gains, while our teams advanced the intended business separations,” said Ed Breen, chief executive officer of DowDuPont. “The Materials Science and Specialty Products divisions delivered better-than-expected top- and bottom-line growth with higher prices and volume gains, including value adding product innovations. Their growth more than offset weather-related delays that are expected to shift a substantial portion of our Agriculture earnings to the second quarter. All three divisions hit their cost synergy targets, producing savings of over $300 million as we build momentum on our $3.3 billion in cost synergies and put more focus on the $1 billion in growth synergies. And we continue to expect Materials Science to spin by the end of the first quarter of 2019, with Agriculture and Specialty Products separating by June 1, 2019. These will be three world-class companies equipped to further their leadership positions in attractive growth markets.”


“The global economy continues to show solid momentum and broad-based growth, driven by consumer-led demand in both developed and developing economies,” said Howard Ungerleider, chief financial officer of DowDuPont. “There are discrete headwinds, including continued volatility in our input costs and weather-related softness in agriculture. However, leading indicators from manufacturing output, to improving energy markets, to employment and consumer spending remain largely positive, reflecting increased economic activity.”

Post your comment
Name:  
Email:    
Comments:  
Verification Code:   Change Image


 
Advertise Here [728 W x 90 H pixels]
Arvind Rub-Web Controls Ltd      Associated Autotex Ancillaries Pvt Ltd      AuteFa Solutions Germany Gmbh      B & R Industrial Automation Pvt Ltd      Basant Wire Industries Pvt Ltd      Best Power Equipments India Pvt Ltd      Brugarolas India Pvt Ltd      Canias ERP Pvt.Ltd      Condair      Delair India Pvt Ltd      DN Associates      Elgi Electric and Industries Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      GEM Equipments Pvt Ltd      Instamod Air Pipe Pvt Ltd      ITEMA WEAVING (INDIA) PVT LTD      Jogindra Industries Pvt Ltd      K.U. Sodalamuthu and Co. Pvt Ltd      Lakshmi Machine Works Ltd      Loepfe Brothers Ltd (Masterline)      Mangal Singh Brothers Pvt Ltd      Mec Growths Texmach Pvt Ltd      Meera Industries Ltd      Nestling Technologies      Picanol N V      Prashant West Point Machinery Pvt. Ltd      Premier Evolvics Pvt Ltd      Rabatex Industires      Reshmi Industries (India) Pvt Ltd      Rieter India Pvt. Ltd      Savio India Ltd      Savio Texcone Pvt Ltd      Sieger Spintech Equipments Pvt Ltd (Parking)      Skaat Machine Works India Pvt Ltd      SMEW Textile Machinery Pvt Ltd      SRE Corporation      Staubli AG      Stella India      Stovec Industries Ltd      Sudarshan Gears      Swissmem      Techaids      TeFoc Accessories      Thymas Electronics Pvt Ltd      VXL Systems      Arvind Rub-Web Controls Ltd      Associated Autotex Ancillaries Pvt Ltd      AuteFa Solutions Germany Gmbh      B & R Industrial Automation Pvt Ltd      Basant Wire Industries Pvt Ltd      Best Power Equipments India Pvt Ltd      Brugarolas India Pvt Ltd      Canias ERP Pvt.Ltd      Condair      Delair India Pvt Ltd      DN Associates      Elgi Electric and Industries Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      GEM Equipments Pvt Ltd      Instamod Air Pipe Pvt Ltd      ITEMA WEAVING (INDIA) PVT LTD      Jogindra Industries Pvt Ltd      K.U. Sodalamuthu and Co. Pvt Ltd      Lakshmi Machine Works Ltd      Loepfe Brothers Ltd (Masterline)      Mangal Singh Brothers Pvt Ltd      Mec Growths Texmach Pvt Ltd      Meera Industries Ltd      Nestling Technologies      Picanol N V      Prashant West Point Machinery Pvt. Ltd      Premier Evolvics Pvt Ltd      Rabatex Industires      Reshmi Industries (India) Pvt Ltd      Rieter India Pvt. Ltd      Savio India Ltd      Savio Texcone Pvt Ltd      Sieger Spintech Equipments Pvt Ltd (Parking)      Skaat Machine Works India Pvt Ltd      SMEW Textile Machinery Pvt Ltd      SRE Corporation      Staubli AG      Stella India      Stovec Industries Ltd      Sudarshan Gears      Swissmem      Techaids      TeFoc Accessories      Thymas Electronics Pvt Ltd      VXL Systems