DuPont lowers Q2, full-year guidance; shares shed 2.9%

CNBC with Reuters
DuPont drops after cutting Q2 & full-year guidance

DuPont announced lower operating earnings in the second quarter and consequently lowered its full-year outlook for operating earnings to a range of $4 to $4.10 per share.

Shares dropped 2.9 percent in after-hours trading on the announcement.

Protective gear made by Dupont on display.
Source: Dupont | Twitter

The multinational chemical company, producer of materials nylon and Teflon, attributed the decline to a revised outlook in agriculture, particularly a higher soybean volume and a decline in corn volume.

"The company believes this is a short-term negative trend, and there will be strong demand for its next generation soybean products," DuPont said in a statement. "The revised outlook also reflects lower-than-expected crop protection herbicide sales, largely due to weather."

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The firm also announced details on a redesign of company infrastructure that will result in a restructuring charge of about $270 million pre-tax, or 20 cents per share after tax, in the second quarter of 2014, the release said.

DuPont is one of several chemical companies in the United States that have faced investor pressure to separate less-stable businesses and increase shareholder returns.

—By CNBC.com. Reuters contributed to this report.