20 Percent Compound Annual Earnings Growth Expected 2009 Through 2012; Customer-Driven Solutions to Target Global Growth Opportunities
Nov. 3, 2009 (PR Newswire) -- WILMINGTON, Del., Nov. 3 /PRNewswire-FirstCall/ -- During the company's Investor Day, DuPont (NYSE: DD) CEO Ellen Kullman and the company's leadership team detailed how DuPont expects to build on its core competitive advantage of market-driven scientific innovation and its strong position in targeted global growth markets to deliver 20 percent compound annual earnings growth for the 2009-2012 period.
"Our focus is on delivering superior growth for our shareholders through customer-driven and science-based solutions, carefully prioritized investments, industry-leading productivity, and strict accountability," Kullman said. "By acting on our commitments to shareholders over the past 12 months, DuPont is meeting the economic recovery as a stronger, faster and more agile global competitor. We are well-positioned to outperform the rate at which markets recover and improve."
By executing on its priorities, DuPont expects to generate about 10 percent top-line compound annual growth for the 2009-2012 period. The company also plans to capture $1 billion in fixed cost productivity and $1 billion in working capital productivity gains during the 2010-2012 timeframe.
DuPont expects to deliver, on average, 20 percent earnings per share growth, from 2009 estimated full-year earnings on a year-over-year basis through 2012. The company said that it expects to grow earnings in 2010 -- despite anticipated declines in pharmaceutical royalties after patents expire in 2010 -- to a range of $2.10 to $2.40 per share. DuPont also reaffirmed its full year 2009 earnings outlook of $1.95 to $2.05 per share, excluding significant items which are estimated to be $0.15 per share for full-year 2009 or $1.80 to $1.90 per share on a reported basis.*
The company plans to capitalize on global growth opportunities by sharply focusing its innovation pipelines on four megatrends to: meet the increasing demand for food productivity; protect people and the environment; decrease dependence on fossil fuels; and capitalize on the growth of emerging markets where about one-third of DuPont's sales are currently generated.
In addition, DuPont is strengthening its alignment with customers and markets; driving disciplined scientific innovation directly from market needs; increasing transparency and accountability for results with a simplified organization; and continuing its intense focus on productivity.
"DuPont's leadership in market-driven science uniquely positions the company to capitalize on four global trends that will define the coming years," Kullman said.