DowDuPont Reports Notable Financial Results in First Quarter

Earnings per share from continuing operations on a GAAP basis declined 51% to $0.23 from $0.47 in the same period of the prior year. Adjusted earnings per share¹ decreased 25% to $0.84 from $1.12 in the same period of the prior year. The adjusted earnings per share figures exclude significant items, including charges totaling $0.50 per share and $0.11 per share related to the amortization of DuPont's intangible assets. The prior year period's adjusted earnings per share excludes significant items, including charges totaling $0.54 per share and $0.11 per share related to the amortization of DuPont's intangible assets. DowDuPont Chairman and Chief Executive Officer Ed Breen said: "Each business has aggressively managed the levers under our control and benefited from our strong foundation in the face of isolated headwinds, including unprecedented adverse weather conditions, margin compression in key value chains, and challenging conditions in automotive and smartphone markets. Through our emphasis on innovation and higher-margin, value-added products, we have been able to capitalize on strong pricing realized in both our Specialty Products and Agriculture businesses. With an additional $400 million in cost savings realized in this quarter, we have progressed our cost synergies and completed our $3 billion share repurchase program with $1.6 billion in repurchases during this quarter."