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DowDuPont Q4 profit falls YOY

DowDuPont Inc. said its normalized net income for the fourth quarter came to 64 cents per share, a decline from 67 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $709.9 million, a decline of 13.4% from $819.8 million in the year-earlier period.

The normalized profit margin declined to 5.5% from 7.2% in the year-earlier period.

Total revenue rose 13.6% year over year to $13.02 billion from $11.46 billion, and total operating expenses climbed 19.6% from the prior-year period to $11.95 billion from $9.99 billion.

Reported net income came to a loss of $289.3 million, or a loss of 26 cents per share, compared with income of $3.59 billion, or $2.94 per share, in the prior-year period.

For the year, the company's normalized net income totaled $3.04 per share, compared to EPS of $2.88 in the prior year.

Normalized net income was $3.41 billion, a decrease from $3.58 billion in the prior year.

Full-year total revenue fell from the prior-year period to $48.16 billion from $48.78 billion, and total operating expenses totaled $42.25 billion, compared with $42.65 billion in the year-earlier period.

The company said reported net income declined on an annual basis to $3.95 billion, or $3.52 per share, in the full year, from $7.63 billion, or $6.15 per share.