DuPont Reports Profit on Home, Auto Sales
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DuPont Co. reported a second-quarter profit as increased consumer spending on housing and home improvements helped the largest U.S. chemical company reverse a year-ago loss.
But DuPont warned profit in the third quarter may fall short of Wall Street estimates, with the faltering economy and stock market turmoil threatening the same consumer confidence that helped it in recent months.
Net income was $543 million, or 54 cents a share, compared with a net loss of $213 million, or 21 cents, a year earlier. Sales fell 4.2% to $6.7 billion.
DuPont’s stock rose $3.23 to $40.28 on the NYSE.
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