DuPont’s Earnings Should Be At Lower End Of Fo

Wilmington, DE, Sept. 18–Chemicals maker DuPont Co. on Wednesday warned 2003 earnings would be near the lower end of its previous forecast due to a slower than expected turnaround in industrial demand.

In pre-opening U.S. trade, its shares fell 2%. DuPont said it expected full-year earnings of about $1.60 per share.

The company saw no evidence of a “broad” turnaround in industrial demand in its July and August results but forecast a “meaningful” recovery, starting in the fourth quarter and into 2004.

It said fourth-quarter results would represent at least 75% of its second-half results. Its second-half outlook excludes estimates of special items.

The Wilmington, DE based company still sees a third-quarter gain of $25 million, or two cents a share, from insurance on a 1995 class-action lawsuit. DuPont also expects a gain of about one cent a share from a favorable arbitration ruling.