Modest expectations

A weak end to 2012 has companies dampening earnings expectations for 2013. Sharp cuts in estimates in late 2012 helped companies meet lowered fourth-quarter earnings expectations. Companies don’t expect much improvement in early 2013 and have generally cut earnings forecasts (p. 7, 15). DuPont set its 2013 outlook for adjusted operating earnings at $3.85–4.05/share, an increase of 2–7% over the prior year. First- and second-quarter earnings are expected to decline modestly year-on-year, as the cyclical decline in titanium dioxide remains a...

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