Resumen Financiero Dupont

Stock Report | Jul 24, 2010 | NYSE Symbol: DD

duPont(E.I.)deNemours
Sub-Industry Outlook
Our fundamental outlook for the diversified chemicals sub-industry for the next 12 months is neutral,although business conditions vary for individual companies. We project that the business environment for the chemical industry will continue to improve in 2010, assuming the economy continues to climbout from the longest and deepest recession since the 1930s. We believe that the manufacturing sector is continuing to show sequential expansion. Earnings for many companies in the second quarter of 2010were helped by a recovery in demand from a weak level a year earlier and cost reductions implemented since late 2008. S&P expects that annual production by the chemical industry, as measured by theFederal Reserve's production index for chemicals and products, will rise about 6% in 2010 after two consecutive years of declines; excluding pharmaceuticals, chemical industry output was down 8.4% in2009. Chemical output in May 2010, at 106.2 (2002 = 100), was up 3.7% from the weak year-earlier level, which was adversely affected by reduced demand and inventory reductions by customers. In May2010, the industry's utilization rate was 73.7%, up from the year-earlier 70.1% rate. The Producer Price Index for chemicals and products in May 2010 was at 246.8 (1982 = 100), up 9.3% from a yearearlier, but for the full year of 2009, the index averaged 6.4% lower. Prices of petrochemicals and plastics retreated somewhat during the second quarter, after surging in the first quarter, in part onbetter industry supply balances. Soda ash makers were able to achieve a domestic price increase in 2010 for the sixth straight year, as the industry is nearly sold out in the U.S. We believe caustic sodaprices in the second quarter of 2010 rose from the first quarter, versus a sharp decline during 2009. Titanium pigment makers should have improved sales in 2010 stemming largely from greater demand...