-=DuPont (DD) reported Q1 earnings on Tue 26 Apr 2016 (b/o)

DuPont beats by $0.22, beats on revs; raises and guides FY16 EPS above consensus :

• Reports Q1 (Mar) earnings of $1.26 per share, $0.22 better than the Capital IQ Consensus of $1.04; revenues fell 19.3% year/year to $7.41 bln vs the $7.1 bln Capital IQ Consensus.
• Co issues upside guidance for FY16, sees EPS of $3.05-3.20 vs. $3.02 Capital IQ Consensus Estimate, up from prior guidance of $2.95-3.10 per share
  • The estimated negative currency impact for full year 2016 is now expected to be about $0.20 per share, versus a previously communicated estimate of $0.30 per share.
• In addition, the company's guidance includes higher corn planted area than previously forecast and a headwind from the impact of Pioneer's transition to an agency-based route-to-market approach in the southern US, which will shift some sales from 2016 to the first quarter of 2017.