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DuPont's profit nearly halves on strong dollar

Ritika Shah
Source: Dupont. The company cited a strong dollar and weak agricultural markets in Brazil and other emerging markets for the decline in profits.

DuPont (NYSE: DD) delivered quarterly earnings that topped expectations on Tuesday, with the company citing a strong dollar and weak agricultural markets in Brazil and other emerging markets for the decline in profits.

Shares of DuPont were little changed in premarket trading following the announcement. (Get the latest quote here.) (NYSE: DD)

The chemicals company posted third-quarter earnings of 13 cents per share, down from 54 cents a share in the year-earlier period.

Revenue fell to $4.97 billion from $7.51 billion a year ago.

Wall Street analysts forecast DuPont would deliver earnings per share of 10 cents on $5.31 billion in revenue, according to a Thomson Reuters.

In July, DuPont cut its full-year earnings forecast , citing the spin-off of its performance chemicals unit and a weak demand for agricultural products.

Earlier this month, DuPont announced Edward Breen would take over as interim chairman and CEO after Ellen Kullman retired from the company effective Oct. 16.

Reuters contributed to this report.



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