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DuPont first-quarter sales fall in coronavirus, despite PPE demand
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DuPont de Nemours Inc. posted lower sales and swung to a loss for the first quarter as the Covid-19 pandemic led to higher demand for personal protective equipment but also disrupted supply chains.
The maker of nylon and other materials for the auto industry Tuesday posted a loss of $616 million, or 83 cents a share, compared with a profit of $521 million, or 69 cents a share, in the same quarter last year.
DUPONT DE NEMOURS
Adjusted earnings were 84 cents a share, ahead of the 73 cents a share analysts polled by FactSet had expected.
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Sales fell to $5.22 billion from $5.41 billion in the year-ago period. Analysts were targeting $5.07 billion. The company said sales grew in its electronics-and-imaging and nutrition-and-biosciences segments, though declines in other segments offset gains.