DuPont (DD - Analyst Report) has extended its contract with KBR Inc. (KBR), under which the latter will provide contracted construction and maintenance services at DuPont’s Tedlar production facility in Circleville, Ohio.
KBR will provide the services at the Circleville facility under an existing contract with DuPont Electronics & Communications. As per this agreement, KBR offers Construction Management, Engineering design and other related services for DuPont. The renewal of the contract includes an expansion of KBR’s services from 17 sites to 26 DuPont sites across the northeast U.S. and gulf coast regions.
KBR is a global engineering, construction and services company and supports the energy, hydrocarbon, power, industrial, civil infrastructure, minerals, government services and commercial markets. DuPont, a prominent player in the chemical industry along with The Dow Chemical Company (DOW - Analyst Report), is committed to constantly explore and innovate science powered solutions in the domains of energy, agriculture, infrastructure, safety and sustainability, and food and nutrition.
DuPont released its second quarter results on Jul 23. The company posted adjusted earnings from continuing operations of $1.28 per share for the quarter, beating the Zacks Consensus Estimate by a penny. The adjusted earnings exclude one-time items including charges associated with customer claims related to the use of an herbicide.
Including one-time items, DuPont logged earnings from continuing operation of $1.10 per share in the quarter compared with $1.15 per share earned in the prior-year quarter. Consolidated net income, as reported, fell 12% year over year to $1.03 billion or $1.11 a share.
Net sales for the second quarter edged down 1% year over year to $9,844 million, as higher sales volumes was more than offset by lower selling prices and unfavorable currency impact. Sales missed the Zacks Consensus Estimate of $10,011 million.
DuPont carries a Zacks Rank #3 (Hold).
Another company in the chemical industry with favorable Zacks rank is Eastman Chemical Co. (EMN - Analyst Report) which retains a Zacks Rank #2 (Buy).