Du Pont Records 18% Drop; America West Narrows Loss
Du Pont reported an 18% drop in first-quarter earnings Wednesday because of weaker petroleum prices, but the chemical company’s other key businesses performed well, cushioning the fall. The results were better than had been expected.
The nation’s biggest chemical maker and eighth-largest industrial corporation earned $482 million, or 71 cents a share, in the three months ended March 31, down from $590 million, or 88 cents a share, the year earlier. Revenue totaled $9.2 billion compared to $9.7 billion, down 5%.
The company attributed the decline to lower worldwide prices for crude oil and refined products, which resulted in a 63% profit drop from Du Pont’s petroleum operations.
Earnings, D7
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
