2010-07-30 [Source: fool]

The market is confused. It's bathed daily in concern about the national debt, job scarcity, and maybe another recessionary round. But then there are companies like DuPont (NYSE: DD) and 3M (NYSE: MMM) that have systematically blown the doors off expectations.

Take a gander at these numbers: DuPont earned $1.16 billion, or $1.26 a share, in the quarter, up from $417 million, or $0.46 a share, in the second quarter a year ago. Adjusted earnings would have come in at $1.17 a share in the latest quarter. The per-share figure compares with the analysts' consensus of $0.93 per share. Net sales were $8.62 billion, up 26% from last year.

Indeed, all six of its segments achieved double-digit sales growth. Agriculture & Nutrition -- easily the largest of the groups with $3 billion in sales -- expanded its top line by 16% and raised its pre-tax earnings by 31%. Unlike a couple of years ago, when all manner of U.S.-based companies benefited from international strength, DuPont's performance was most closely tied to North American seed sales.

And not all big agriculture companies matched those results. For instance, Monsanto's (NYSE: MON) earnings plunged a dramatic 45% for its most recent quarter. But DuPont CEO Ellen Kullman was hardly surprised by her company's ascendancy. As she observed on the call:

As expected, our Ag & Nutrition business had an outstanding quarter, thus concluding a very successful selling season for the northern hemisphere. The multi-year investment in our 'right product, right acre' seeds strategy focuses on our unique ability to optimize, [and grow] profitability field by field. This winning strategy sets us apart from the competition

At the same time, while far smaller than the agriculture unit, both Electronics & Communications and Performance Materials topped 45% in sales increases. And the latter segment exceeded all the others in pre-tax earnings growth in dollars.

The chemicals companies haven't yet all reported to us. While Ashland (NYSE: ASH) already turned in very solid numbers, Dow Chemical (NYSE: DOW), DuPont's largest competitor in the segment, will saddle up next Tuesday, while a pair of smaller manufacturers, Eastman Chemical (NYSE: EMN) and Celanese (NYSE: CE), took center stage today with strong showings. So the group clearly is feeling the recovery.

But it's clear that Ellen Kullman, who has been DuPont's CEO since 2008, has breathed life into a previously lackluster company, even without the benefit of her predecessor's University of Tennessee degree. And since people must eat, I'd urge Fools to keep close tabs on her ongoing handiwork.