DuPont Reports Strong Q3 Earnings

WILMINGTON, Del. – DuPont (NYSE:DD) reported third quarter earnings that exceeded analyst expectations, boosting shares by 2.7% in early trading on Tuesday.

The specialty materials company posted adjusted earnings per share of $1.18, surpassing the consensus estimate of $1.03. Revenue was recorded at $3.2 billion, aligning with analyst projections.

DuPont experienced organic sales growth of 3% in the quarter, benefiting from a 5% increase in volume, which was somewhat offset by a 2% decline in pricing. The company’s Electronics & Industrial segment led growth, showcasing a 10% organic sales increase.

CEO Lori Koch stated, "Our results reflect continued strong quarterly financial performance with sequential improvement across all key financial metrics." She highlighted a recovery in electronics demand and improvements in end-markets like water and medical packaging.

Operating EBITDA rose 11% year-over-year to $857 million, with margins expanding 150 basis points to 26.8%.

Looking ahead, DuPont has raised its full-year 2024 guidance. The company now anticipates adjusted EPS of $3.90, compared to its previous outlook of $3.70-$3.80 and above the $3.77 consensus. Revenue is projected at $12.37 billion, slightly shy of the $12.44 billion analyst estimate.

DuPont confirmed it is progressing on its planned separations of its electronics and water businesses, first announced earlier this year, aiming for completion within 18-24 months of the May 2024 announcement.

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