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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 -0.23% 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 -1.16% 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 +0.39% has gained 21%.

/zigman2/quotes/203606582/composite
US : U.S.: NYSE
$ 61.56
-0.14 -0.23%
Volume: 7.19M
Jan. 17, 2020 6:30p
P/E Ratio
58.34
Dividend Yield
N/A
Market Cap
$45.71 billion
Rev. per Employee
$877,316
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/zigman2/quotes/211617595/composite
US : U.S.: Nasdaq
$ 109.12
-1.28 -1.16%
Volume: 10.44M
Jan. 17, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.79 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,329.62
+12.81 +0.39%
Volume: 2.15B
Jan. 17, 2020 5:07p
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