Research Desk Line-up: Potash Corp. of Saskatchewan Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 1, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on E. I. du Pont de Nemours and Co. (NYSE: DD) ("DuPont"), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=DD, following the Company's release of its financial results on July 25, 2017, for the second quarter fiscal 2017 (Q2 FY17). The Wilmington, Delaware-based Company's net sales and operating earnings per share grew 5% and 11% y-o-y, respectively; topping market expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
http://protraderdaily.com/register/
Get more of our free earnings reports coverage from other constituents of the Agricultural Chemicals industry. Pro-TD has currently selected Potash Corp. of Saskatchewan Inc. (NYSE: POT) for due-diligence and potential coverage as the Company reported on July 27, 2017, its financial results for Q2. Register for a free membership today, and be among the early birds that get access to our report on Potash Corp. of Saskatchewan when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on DD; also brushing on POT. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/'symbol=DD
http://protraderdaily.com/optin/'symbol=POT
Earnings Reviewed
During the quarter ended on June 30, 2017, DuPont reported net sales of $7.42 billion compared to $7.06 billion recorded at the end of Q2 FY16. Net sales numbers for the reported quarter outshined market forecasts of $7.26 billion.
In Q2 FY17, DuPont's total segment operating earnings came in at $1.76 billion, which was above the $1.61 billion recorded in Q2 FY16. Furthermore, total segment's operating margins increased about 80 basis points y-o-y in Q2 FY17.
The chemical Company reported GAAP income from continuing operation after tax of $859 million, or $0.98 per diluted share, in Q2 FY17 compared to $1.03 billion, or $1.17 per diluted share, in Q2 FY16. The Company's Q2 FY17 non-GAAP operating earnings was $1.21 billion, or $1.38 per diluted share, which came in above the $1.09 billion, or $1.24 per diluted share, reported in Q2 FY16 and market expectations of $1.29 per diluted share.
Segment-Performance
For Q2 FY17, Agriculture segment reported net sales of $3.45 billion compared to $3.22 billion in Q2 FY16. Furthermore, the segment's operating earnings increased to $963 million in Q2 FY17 from $865 million in Q2 FY16.
Performance Materials segment contributed $1.38 billion to total net sales during Q2 FY17 compared to $1.34 billion in Q2 FY16. Additionally, this segment's operating income stood at $329 million for the reported quarter versus $325 million in Q2 FY16.
The Company's Nutrition & Health net sales were down marginally during Q2 FY17 to $818 million from $835 million in the year ago same period. However, the segment's operating earnings improved to $135 million in Q2 FY17 from $130 million in Q2 FY16.
DuPont's Protection Solutions sales stood at $801 million Q2 FY17 compared to $786 million in Q2 FY16. Furthermore, the segment's operating earnings increased to $191 million in Q2 FY17 from $188 million in the last year's comparable quarter.
In Q2 FY17, Electronics & Communications segment reported net sales of $546 million, up from $494 million recorded in the prior year's comparable quarter. Moreover, the segment's operating earnings improved to $116 million in Q2 FY17 from $93 million in Q2 FY16.
Industrial Biosciences' net sales improved to $395 million in Q2 FY17 from $355 million in Q2 FY16. Meanwhile, the segment's operating earnings grew to $76 million in Q2 FY17 from $62 million in Q2 FY16.
Cash Flow & Balance Sheet
During the first six months of FY17, DuPont used $4.06 billion of cash in its operating activities compared to cash used for operating activities of $1.46 billion in the year ago same period. The Company reported negative free cash flow of $4.58 billion in FY17 versus negative free cash flow of $1.97 billion recorded in the first half of FY16.
At the close of books in the reported quarter, DuPont had $3.25 billion in cash and cash equivalents compared to $4.61 billion at the close of books on December 31, 2016. Additionally, the Company's long-term borrowings and capital lease obligations increased to $10.09 billion on June 30, 2017, from $8.11 billion on December 31, 2016.
Dividend
In a separate press release on July 13, 2017, DuPont announced the third quarter common stock dividend of $0.38 per share, payable on September 29, 2017, to stockholders of record July 31, 2017. The upcoming dividend payment will be the Company's 452nd consecutive quarterly dividend since its first dividend in the fourth quarter of 1904.
Merger Update
DuPont's and the Dow Chemical Company's (NYSE: DOW) Boards of Directors have reiterated their support of the merger agreement through a press release on June 28, 2017. Both companies reaffirmed their expectation to close the merger in August 2017, with the intended spin-offs to occur within 18 months of closing.
Stock Performance
On Monday, July 31, 2017, the stock closed the trading session at $82.21, declining 2.11% from its previous closing price of $83.98. A total volume of 2.18 million shares have exchanged hands. DuPont's stock price surged 2.17% in the last one month, 8.17% in the past six months, and 18.85% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 12.00%. The stock is trading at a PE ratio of 29.43 and has a dividend yield of 1.85%. The stock currently has a market cap of $71.86 billion.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: contact@protraderdaily.com
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily
