Chemicals maker DuPont
Executive Vice President Mark P. Vergnano told investors on Tuesday that he doesn't expect the company to return to 2008 profit levels for about two-and-a-half to three years.
That outlook factors in expected losses in the company's pharmaceutical unit, he said.
DuPont earned $2.20 per share in 2008. Analysts expect the company to earn $1.82 per share in 2009, according to Thomson Reuters I/B/E/S estimates.
Even though Vergnano made the statements to a private group of investors, DuPont is required to disclose guidance on earnings.
The Wilmington, Delaware-based company, which makes a wide range of consumer and industrial products like Kevlar and Nomex, made the announcement in a filing with the Securities and Exchange Commission.
Shares of DuPont -- the only chemical maker in the Dow Jones industrial average -- fell 9 cents to $31.80 in afternoon trading.
The stock has traded between $16.05 and $39.36 in the past 52 weeks.
(Reporting by Ernest Scheyder)