DuPont Co, an American chemical company, raised its profit forecast on Thursday, saying strong growth in its agriculture businesses and emerging markets should help offset weakness in U.S. housing and automotive markets.
DuPont now expects to earn about $1.29 a share in the first quarter, compared with its previously issued outlook of $1.14 to $1.19.
The company also raised the lower end of its full-year 2008 outlook by 5 cents a share to a range of $3.40 to $3.55.
DuPont is currently the world's second largest chemical company in terms of market capitalization and fourth in revenue. Its stock price is also a component of the Dow Jones Industrial Average.
DuPont is often successful in popularizing the brands of its material products such that their trademark names become more commonly used than the generic or chemical word(s) for the material itself. One example is “neoprene”, which was intended originally to be a trademark but quickly came into common usage.
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