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DowDuPont files historical pro forma financial statements

DowDuPont filed historical unaudited pro forma financial statements that give effect to the Merger Transaction, provide quarterly pro forma financial information aligned to DowDuPont’s new reportable segments and incorporate reporting practices that provide additional visibility into the underlying performance of the company.

In light of the significant amount of accounting and reporting changes incorporated into the historical and current quarter pro forma financial statements, DowDuPont also provided its expected results for the third quarter of 2017:
  • GAAP net sales of $15.4 billion; pro forma net sales of $18.3 billion, up 8 percent versus the year-ago period, with gains in both volume and price.
  • GAAP diluted earnings per share of $0.32. Pro forma adjusted earnings per share of $0.55, an increase of 10 percent versus the same quarter last year. Pro forma adjusted earnings per share excludes $0.37 per share charge for significant items and $0.08 per share charge for DuPont amortization of intangible assets.
These expected results reflect robust consumer-led demand in most of DowDuPont’s core end-markets, as well as pricing gains and higher equity earnings, which more than offset higher feedstock costs, weak market conditions in agriculture (particularly due to expected lower corn area and a delayed start to the Brazil summer season) and the unfavorable impact of hurricanes.

Click here for the full statement.

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