Similar to our call last quarter, we are expecting DuPont to deliver disappointing top-line results while earnings will likely come in close to Wall Street’s expectations.
While economic conditions have not improved significantly over the last three months, we believe that the rate of decline will moderate from last quarter’s 23% y/y decline in revenues.
Wall Street analysts have been furiously raising their quarterly earnings estimates after Target stated on May 7th that they expected results to be “well above the current median First Call estimate of 52 cents.”
