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DowDuPont (DWDP) rues delayed seed deliveries after issuing Q1 profit warning

  • Severe weather prevents more than 50% of deliveries into early April
  • $3.4 billion sales and $665 million operating EBITDA now forecast
  • Full-year guidance unchanged

DowDuPont Inc. (NYSE: DWDP) is counting the cost of severe weather conditions after issuing a profit warning for the first quarter following delayed seed deliveries. The company said more than half of planned seed deliveries were unable to take place in the final days of Q1, which will result in a “greater than anticipated impact” on performance. It added: “The division would expect one day of U.S. seed sales to generate about $25 to $35 million in operating EBITDA.” Sales of $3.4 billion are now forecast, down 11% on the same period a year earlier.