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DuPont said on Thursday it expects sales to decline this year, the latest warning of weakness in the industrial market, which includes autos and electroni.
The chemicals giant said on Thursday it expected weak demand in many of its businesses to continue into the second half of the ye.
"It's hard for us to expect any improvement," executive chairman Edward Breen told investo.
DuPont saved $100 million in costs this quarter and expects to save $450 million this ye.
DuPont is headquartered in Wilmington, Delawa.
The company's second-quarter sales excluding currency changes and acquisitions fell 3% in the second quarter, with lower volumes offsetting higher pric.
The company said it expects R&D spending to still account for about 4% of sales this ye.
Sales in the company's transportation and industrial business fell 12% due to lower auto production and weaker demand for electroni.
DuPont also said it would benefit from the rise of the faux meat industry due to its production of pea and soy protei.
"We're pretty well positioned in this market," said CEO Marc Doy.
DuPont expects adjusted earnings per share for the full year to be between $75 and $8
DuPont posted a net loss of $571 million in the second quarter, compared with a profit of $77 billion a year earli.
Adjusted earnings per share were 97 cents, up from 89 cents previously, the company sa.
DuPont's second-quarter net sales were $47 billion, down
