(Add estimates, details on results)
Jan 26 (Reuters) - DuPont on Tuesday estimated fourth-quarter profit and revenue above Wall Street expectations as the industrial materials maker kept a tight lid on costs and benefited from a recovery in electronic and automotive industries.
The company, which makes everything from brake fluid to fabric used in protective garments, had renegotiated some contracts last year and accelerated plans to cut jobs after several of its customers across different industries took a hammering from the pandemic.
DuPont estimated adjusted profit between 93 cents and 95 cents per share in the fourth quarter. Analysts had on average expected a profit of 80 cents per share, according to Refinitiv IBES data.
The company also expects to report sales of $5.25 billion in the three months ended Dec. 31, also above $5.07 billion estimated by analysts.
The company’s full-year estimate for adjusted earnings of between $3.34 and $3.36 on net sales of about $20.40 billion, was also well above its prior forecast.
DuPont announced preliminary results on Tuesday ahead of the expiry of an exchange offer whereby DuPont shareholders can elect to tender shares of DuPont stock in exchange for shares of Nutrition & Biosciences Inc stock.
International Flavors & Fragrances Inc said late in 2019 that it would merge with DuPont Inc’s nutrition and biosciences unit to create a consumer giant valued at more than $45 billion.
The company is scheduled to report its fourth-quarter results on Feb. 9. (Reporting by Shariq Khan in Bengaluru; Editing by Ramakrishnan M. And Shinjini Ganguli and Anil D’Silva)