Chemical giant DowDupont gives a warning about its quarterly results for the second time in a short time. The sales and profits of the agricultural division are even lower than expected due to flooding in the American Midwest. At the end of March, the group also issued a profit alarm due to bad weather.
DowDupont reports a sales decrease of 11 percent for the first three months for its agricultural component, which sells seeds and pesticides, among other things. The operating result (EBITDA) is expected to be a quarter lower. For the first half of the year, the group expects a fall in the operating result of 3 to 5 percent.
There was not only bad news. DowDupont expects its division for highly specialized materials to keep the operating result the same as the year before. Previously, DowDupont predicted a fall of a few percent.