UPDATE: DuPont Posts In-Line Q4 Earnings, Sales Miss Estimates

E.I. duPont de Nemours & Co (NYSE: DD) reported in-line earnings for the fourth quarter.The Wilmington, Delaware-based company posted a quarterly net profit of $683 million, or $0.74 per share, versus a year-ago profit of $185 million, or $0.20 per share. Its adjusted profit surged to $0.71 per share from $0.59 per share. Its total revenue jumped to $7.92 billion from $7.84 billion, while net sales slipped 5% to $7.38 billion. However, analysts were expecting earnings of $0.71 per share on revenue of $7.8 billion. Agriculture segment operating earnings climbed 47% to $129 million in the quarter, while Electronics & Communications segment operating earnings rose 4% to $97 million. Industrial Biosciences operating earnings gained 23% to $49 million in the quarter, while Performance Chemicals segment operating earnings slipped $2 million to $228 million.For 2015, the company projects operating earnings of $4 to $4.20 per share, versus analysts' estimates of $4.47 per share.DuPont also announced its plans to buy back up to $4 billion in shares."Our 2014 results demonstrate continued progress on our strategic plan to deliver higher growth and higher value, including ongoing portfolio refinement through several strategic portfolio actions and steady progress on the planned Chemours separation, substantial cost reductions from our operational redesign and productivity initiatives, and the continued return of capital to our shareholders through $2 billion of share repurchases and an increase in the common stock dividend of 4 percent," Kullman said.DuPont shares rose 0.43% to close at $74.11 yesterday.