E.I. du Pont de Nemours and Co. (NYSE: DD) reported fourth quarter and full-year 2015 results Tuesday before markets opened. The chemical giant posted quarterly adjusted operating earnings per share (EPS) of $0.27 on revenues of $5.30 billion. In the fourth quarter of 2014, the company reported EPS of $0.57 on revenues of $5.85 billion. Consensus estimates called for EPS of $0.25 and revenues of $5.53 billion.
For the full year, DuPont reported EPS of $2.77 on revenues of $25.13 billion, compared with 2014 EPS of $3.51 and revenues of $28.41 billion. Analysts were looking for EPS of $2.76 and revenues of $25.55 billion.
On a GAAP basis, the company posted a net loss of $0.26 for the quarter and EPS for the year of $2.09. Restructuring charges wiped $0.58 per share from earnings while other items narrowed the quarter’s adjustments to $0.47. Total adjustments for the fiscal year totaled $0.39.
Regarding the announced merger with Dow Chemical Co. (NYSE: DOW), DuPont said that the merger is expected to close in the second half of 2016, after which the new company, named DowDuPont, will break into three separately traded public companies in tax-free spin-offs. Nothing new there.
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