DuPont’s third quarter performance. Our segment results were generally in line with our July expectations, double digit earnings improvements from Performance Materials, Electronics & Communications, Safety & Protection and Industrial Biosciences paired with ongoing productivity initiatives across the company helped to offset the expected earnings decline from our Performance Chemical segment.
Operating earnings of $0.45 per share were above our guidance due to a one point reduction in the annual tax rate, gains related to our Pannar acquisition and a joint venture asset both of which we expected in the fourth quarter. However, the strength of the dollar were greater headwinds than we expected.
As a result we realized a higher portion of the second half operating earnings in the third quarter in the 40% we anticipated in July. Third quarter net sales about $7.7 billion increased 5%, largely due to 9% higher volumes first at the week prior year. Read More : E. I. du Pont.
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