DuPont reports strong Q3 results, plans to split into three companies sooner than expected.

From CNBC: 2024-11-05 15:23:53

DuPont’s shares surged after reporting strong third-quarter results, exceeding expectations. Net sales rose 4.4% to $3.19 billion, with adjusted EPS up 28.3% to $1.18 per share. Operating EBITDA of $857 million beat consensus. The company also raised full-year guidance for operating EBITDA and adjusted EPS. DuPont plans to split into three separate companies, boosting investor confidence. Management aims to complete the separation sooner than expected, potentially by December 2025. The stock rose nearly 6% to $87 a share. Operating margins for core business units exceeded expectations, showing efficient operations. The electronics-and-industrial segment saw increased volume gains and savings from restructuring. Water-and-protection unit’s profitability benefited from productivity and savings. Sales in semiconductor technologies and interconnect solutions drove growth. Safety solutions revenues fell, offset by medical packaging product sales. Shelter solutions saw a slight decline due to weak construction markets. Water solutions increased as China recovers. Quarterly results exceeded expectations, with DuPont offering a positive update on the planned separation into three companies. Management raised full-year guidance for operating EBITDA and adjusted EPS, while tweaking net sales forecast. Analysts were optimistic about DuPont’s strong performance and future prospects.



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