DuPont announced a profit for the most recent quarter that was double and beat estimates of analysts, helped through higher margins from businesses that sell seeds and those that make material for use in solar panels.
DuPont, which is the largest chemical maker in the U.S. in market value, announced a new share buyback of $5 billion, of which $2 billion will be purchased in 2014.
The company is concentrating growth in high margin food, agriculture, alternative energy and specialty materials.
DuPont also outlined its plans for a spinoff of the chemicals unit.
Analysts on Wall Street believe that Nelson Peltz a large shareholder was the reason for the business spin off. The chemicals unit makes the pigment that is found in products from sunscreen to car paint.
Peltz has a hedge fun and says that stock at DuPont is undervalued. He has not said how he believes it can be increased.
Company stock has increase by close to 25% over the past year through the close of business in Monday to $60.24, which put the market value of the company at over $55.78 billion.
The agricultural unit at DuPont supplies fertilizers and seeds to farmers and has increased in size to become the largest business by sales.
The unit became profitable during the 2013 fourth quarter for the first time in nearly four years, thanks to strong sales in insecticides in Latin America and seed shipments to North American and Brazilian farmers earlier than usual.
Operating earnings in the agricultural unit were just over $88 billion, which is compared to a $77 million loss last year.
In the communications and electronics unit, operating earnings doubled. This unit makes the metal paste that is used in products for solar energy amongst other things. The increase was the second largest amongst the seven business units at DuPont.
DuPont announced it expects operating earnings for the full year to increase by between 8% and 15% to between $4.20 and $4.45 a share. It also expects sales in 2014 to climb by 4% to nearly $37 billion.
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