(AOF) – DuPont de Nemours is expected to rise in pre-market on Wall Street after posting fourth-quarter adjusted earnings per share of $0.87, down 2% but higher than the expected figure of $0.85 . The chemical manufacturer posted a turnover of 2.9 billion dollars, down 7% year-on-year, lower than the 2.93 billion expected. The outlook for the 1st quarter is lower than expected, with adjusted earnings per share expected between $0.63 and $0.65 versus $0.67 expected.
The turnover for the 1st quarter is expected at 2.80 billion instead of 2.85 billion for the consensus. The forecasts for the 2024 financial year are, however, in line with those of analysts, with adjusted earnings per share between 3.25 and 3.65 dollars against 3.36 expected, for a turnover between 11.9 and 12, 3 billion against 12.14 billion expected.
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Nothing is going well for German chemistry
German chemicals, very dependent on Russian gas, are in difficulty. Following sluggish sales in the automotive sector and falling demand in construction, production is down 8.5% in 2022, with overall turnover down 1.6% to 63.1 Billions of Euro’s. Specialty chemistry is doing better. On the other hand, the rate of utilization of production capacities in basic chemicals has slowed significantly to reach less than 80%. The third German industrial sector is tempted by relocation to the United States, where energy costs are much lower. With the Inflation Reduction Act, the United States has established an environment appropriate to current challenges.