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DuPont swings to profit in Q4

Chemicals giant DuPont has reported strong fourth-quarter results.

The company swung to a fourth-quarter profit though sales slipped as it attempts to solidify its merger with Dow Chemical.

The company earned $265 million ( €246m), or 30 cents per share, compared with a loss last year.

Earnings, adjusted for one-time gains and costs, came to 51 cents per share, which easily surpassed Wall Street's per-share forecast of 42 cents, according to a survey by Zacks Investment Research.

Revenue in the agricultural unit fell 10% to $1.39 billion, mainly because of off timing for seed sales, according to DuPont.

In July of 2016, DuPont shareholders approved the merger with Dow Chemical, a deal valued at about $62 billion. The company, after merging, would split into three separate, publicly traded companies, one focusing on agriculture, one on material science, and one on the production and sale of specialty products.





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