A strong U.S. dollar and lower volumes has DuPont Company’s sales down 6 percent from a year earlier in the first quarter, according to the Beaumont Enterprise.
DuPont attributed a 4 percent decline in sales to the strong dollar and lower volumes counted for 2 percent.
The company reported a $1.23 billion profit, up from $1.03 billion for the same period in 2015. It forecasts less impact from currency fluctuations in the coming months, anticipating earnings of $3.05-$3.20 per share.
In the first quarter of 2016, sales benefited from higher prices and a larger acreage of land dedicated to corn.
The company is currently preparing to merge with Dow Chemical and expects the deal to close later this year.