E.I. du Pont de Nemours Q2 2009 Earnings Call Transcript

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2009-07-21 14:44:26.0

Tags: E.I. Du Pont De Nemours & Co., Deutsche Bank AG, Performance, Call Transcript, Earnings, Pricing Strategy, Pricing, Marketing Research, Performance Management, Marketing, Human Resources, Workforce Management, Seeking Alpha, E. I. Du Pont de Nemours & Co.

Question-and-Answer Session

Operator

Thank you. We'll now begin the question-and-answer session. (Operator's Instructions) Our first question is from David Begleiter with Deutsche Bank. Please go ahead.

David Begleiter - Deutsche Bank

Thank you, good morning. Ellen, on the guidance for the back half, what is the range of volume assumptions underlying that $0.40 range?

Ellen J. Kullman

Yeah, it is the same volume assumptions we had coming through and shared with you in the first quarter. We came in the second quarter pretty much right in the middle of where we expected, and that's why we maintained our estimate for the full year.

David Begleiter - Deutsche Bank

And just on pricing, are we seeing any sequential pricing pressure besides what you mentioned in performance polymers?

Jeffrey L. Keefer

No, not really, David. This is Jeff. I think our pricing discipline remains good. We talked about our new products. And what we are seeing in our business, excluding Ag, is principally the effect of raw materials pass through and chemicals, and a pass through of metals and electronics, and as I said, some pricing pressure in performance materials. But again, good pricing discipline in that business.

David Begleiter - Deutsche Bank

Thank you.

Operator

Our next question is from Don Carson from UBS. Please go ahead.

Don Carson - UBS

Thank you. I have a question on your seed gains this year. You've had a strong year; you gained share in US corn seed, I think, for the first time in eight years. I think that is certainly attributable to narrowing a bit of the yield gap with Monsanto, but that yield gap still exists. They've got a very competitive product in SmartStax next year. What is your degree of confidence that you can sustain this year's market share gains in both US corn and soybean as you go into 2010?

Ellen J. Kullman

Yeah, Don. Thanks for your question. In working with the Ag team and the Pioneer team as I have through the last nine months, I guess I don't see the yield drag that you talk about. (Inaudible) that 2010 that we will continue our momentum in that marketplace and continue to see positive results.

Karen A. Fletcher

And I would just add to that, Don. We are awaiting the final EPA ruling on our AcreMax product, and we'll have that in a matter of days or weeks. Then it'll be added to a very diverse lineup of products, and it comes back to our right-product-right-acre strategy, and working with the farmer on giving him the highest yield on his farm under his conditions.

 

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