May 1 (Reuters) - Industrial materials maker DuPont de
Nemours ( DD ) beat Wall Street estimates for first-quarter
profit on Wednesday, as it benefited from higher sales in its
electronics and semiconductors segment.
Chemicals companies had resorted to cost cuts and destocking
last year due to low demand in key markets. But the overall
manufacturing output is now improving.
The United States reported an increase in output in February
and March, while China and South Korea also saw some recovery
even as factory activity in many Asian economies weakened in
March.
DuPont's ( DD ) electronics and industrial unit, the biggest
segment in terms of revenue, saw a 5% rise in net sales to $1.37
billion, Analysts had expected $1.32 billion, according to LSEG
data.
The company's adjusted profit was 79 cents per share, above
analysts' average estimate of 65 cents.
DuPont ( DD ) expects second-quarter sales of $3.03 billion and
adjusted profit of 84 cents. Analysts were expecting earnings of
78 cents for the period, with sales to be in line.