Excluding a 15-cent-per-share hit from restructuring charges, chemicals giant DuPont (NYSE: DD), yet another Dow component, said it would have earned 61 cents per share. That number bested consensus estimates for a 53-cent per share profit, but once again, the top-line number is cause for concern.
DuPont said its second-quarter profit dropped 61% to $417 million, or 46 cents per share, with revenue falling 24% to $7.09 billion. Analysts had expected the company to bring in $7.14 billion in revenue.
Those revenue and profit numbers are dismal. In fact, DuPont was listed as one of the top stocks to avoid for the rest of the year.
I rate DuPont a D, or sell.
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