DuPont (DD) scientists have been conferred the Heroes of Chemistry award for developing the insect control product Rynaxypyr. The award was given by the world’s largest scientific society ??? the American Chemical Society (:ACS). The award is given to those scientists whose innovative work in chemistry and chemical engineering have led to the development of commercial products that benefit humankind.
DuPont Rynaxypyr insect control compound is the first insecticide from a new class of chemicals, the anthranilic diamides, with insecticidal activity which can be used to control almost all economically important Lepidoptera and selected other species. When used early in the pest life cycle, Rynaxypyr prevents the build-up of pest populations, maximizing yield potential. The product enables the farmers to protect their crop yields, thereby helping them to obtain more value.
In developing countries, farmers increase their yields by using Rynaxypyr. The adequate returns help support their families and the product also has excellent environmental profile. Rynaxypyr is registered in 94 countries on more than 400 crops, including vegetables, pome and stone fruit, tree nuts, grapes, corn, cotton and many others.
DuPont, a prominent player in the chemical industry along with The Dow Chemical Company (DOW), Air Products and Chemicals, Inc. (APD) and Eastman Chemical Co. (EMN), released its second quarter results in Jul 2013. The company beat earnings expectations by a whisker in the quarter but missed on sales as lower titanium dioxide (TiO2) pricing hurt its top line. The results reflect continued strength in its agriculture business riding on strong corn seeds and crop protection products sales, offset by weakness across performance chemicals and electronics franchises.
DuPont posted adjusted earnings from continuing operations of $1.28 per share for the quarter, beating the Zacks Consensus Estimate by a penny. The adjusted earnings exclude one-time items including charges associated with customer claims related to the use of an herbicide.
Net sales for the second quarter edged down 1% year over year to $9,844 million, as higher sales volume was more than offset by lower selling prices and unfavorable currency impact. Sales missed the Zacks Consensus Estimate of $10,011 million.
DuPont carries a Zacks Rank #3 (Hold).