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Oct. 31, 2019, 10:22 a.m. EDT

DuPont says its nutrition & biosciences business got a boost from plant-based meat demand

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By Ciara Linnane

One of the hottest food trends featured in the earnings of specialty chemicals company DuPont de Nemours Inc. /zigman2/quotes/203606582/composite DD -0.36% on Thursday. The company said it's nutrition & biosciences (N&B) business saw a boost in food and beverage volumes driven by gains in specialty proteins from growing demand for plant-based meats. On the company's earnings call with analysts, Chief Operating Officer Marc Doyle said the company's plant-based meat business is "relatively small today," but that it is expected to grow in the double digits. Alternative meat has become a big business in the U.S., as companies' like Beyond Meat Inc. /zigman2/quotes/211617595/composite BYND +2.66% and Impossible Meat are introducing their products at more restaurants and fast-food outlets, as well as on grocery shelves. DuPont's N&B business is just one of four business segments, along with electronics & imaging, transportation & industrial and safety & construction. DuPont shares were up 1% Thursday, but have fallen 13% in 2019, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.03% has gained 21%.

/zigman2/quotes/203606582/composite
US : U.S.: NYSE
$ 58.14
-0.21 -0.36%
Volume: 1.92M
Aug. 13, 2020 1:58p
P/E Ratio
N/A
Dividend Yield
2.07%
Market Cap
$42.82 billion
Rev. per Employee
$877,316
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/zigman2/quotes/211617595/composite
US : U.S.: Nasdaq
$ 127.13
+3.30 +2.66%
Volume: 1.75M
Aug. 13, 2020 1:58p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$7.73 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,381.34
+0.99 +0.03%
Volume: 1.13B
Aug. 13, 2020 1:58p
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