The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App

DuPont plans $1B stock buyback

DuPont logo. (PRNewsFoto/DuPont)
AP

NEW YORK Chemicals giant DuPont Co. (DD) says it should reach the high end of its net income guidance in 2012 and that its profit will grow in the low- to mid-single digits in 2013.

With its shares trading around annual lows, DuPont also says it plans to buy back up to $1 billion in company stock.

DuPont had forecast net income of $3.25 to $3.30 per share from continuing operations in 2012. The Wilmington, Del., company says its sales will grow in the low single digits in 2013.

Analysts expect DuPont to post adjusted net income of $3.37 per share in 2012 and $3.67 per share in 2013, according to FactSet. That implies growth of 9 percent. Analysts expect sales to rise about 2 percent.

DuPont shares gained 2 percent in after-hours trading.