Posted: Jan 28, 2014 4:42 AM
Updated: Jan 28, 2014 4:43 AM
DOVER, Del. (AP) The DuPont Co. says volume growth and increased margins led to a sharp increase in fourth-quarter income.
The company also announced a $5 billion share repurchase program Tuesday.
The company reported earnings of $185 million, or 20 cents per share, for the three months ending Dec. 31. DuPont reported earnings of $92 million, or 9 cents per share, for the fourth quarter of 2012.
DuPont's operating earnings of 59 cents per share beat the consensus estimate of Wall Street analysts of adjusted earnings of 55 cents per share.
Sales for the quarter were $7.7 billion, up from $7.3 billion last year.
For the full year, DuPont earned $4.8 billion on sales of about $35.7 billion. The company last year reported net income of about $2.8 billion on sales of about $34.8 billion.