(Reuters) - DuPont and Co DD.N, which makes hybrid seeds, a critical pigment for paint and Kevlar bulletproof fiber, now expects 2012 profit to be at the low end of its forecast, due in part to economic uncertainty circling the globe.
The new forecast, for earnings at the “lower end” of the range of $4.20 to $4.40 per share, came after the company posted higher-than-expected quarterly profit.
Details were sparse in a press release on Tuesday announcing quarterly results, but Ellen Kullman, DuPont’s chief executive, said: “Our teams continue to executive well in a dynamic environment.”
DuPont reported second-quarter net income of $1.18 billion, or $1.25 per share, compared with $1.22 billion, or $1.29 per share, in the year-ago period.
Excluding one-time items, the company earned $1.48 per share during the second quarter. By that measure, analysts expected $1.46, according to Thomson Reuters I/B/E/S.
Revenue rose 8 percent to $11.28 billion. Analysts looked for $11.27 billion.
Reporting by Ernest Scheyder in New York; editing by Lisa Von Ahn and Jeffrey Benkoe