DuPont reported strong earnings, plans to split into three firms, driving shares up 5%.

From CNBC: 2024-07-31 13:40:19

DuPont reported a beat-and-raise quarter, with net sales of $3.17 billion, up 2.5% YoY and 8.2% QoQ. Adjusted EPS rose 14.1% to 97 cents, beating expectations. EBITDA of $798 million surpassed consensus. The company plans to split into three firms. Shares rose 5% on the news.

DuPont’s recovery is driven by AI chip demand. Its electronics segment saw over 20% YoY growth in semiconductor technologies. Water and protection sales slightly declined YoY, but increased 8% QoQ, showing recovery. The company plans to separate in 18-24 months. Guidance raised for revenue, EBITDA, and EPS.

DuPont exceeded Wall Street estimates on most metrics. Electronics and industrial revenue increased 8%, helped by advanced purchases for new chipmaking plants. Water and protection sales edged out estimates by $37 million. Guidance raised for net sales, operating EBITDA, and adjusted EPS. Q3 guidance in line with expectations.



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