DuPont gives 2013 outlook, plans $1B stock buyback
Chemical giant DuPont Co. says it should reach the high end of its net income guidance in 2012 and its profit will grow in the low- to mid-single digits in 2013.
With its shares trading around annual lows, DuPont also says it plans to buy back up to $1 billion in company stock.
DuPont had forecast net income of $3.25 to $3.30 per share from continuing operations in 2012. The Wilmington-based company says its sales will grow in the low single digits in 2013.
Analysts expect DuPont to post adjusted net income of $3.37 per share in 2012 and $3.67 per share in 2013, according to FactSet. That implies growth of 9%. Analysts expect sales to rise about 2%.
DuPont shares gained 2% in after-hours trading.
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