DuPont Reports Higher 2Q Profit as Sales Rise

Dow Jones
08/04
 
 

DuPont de Nemours reported a higher profit in the second quarter as sales rose across the chemicals and materials company's segments.

The company on Tuesday reported a profit of $143 million, or $1.05 a share, compared with a profit of $59 million, or 42 cents a share, a year earlier. DuPont also recorded earnings from continuing operations of $1.37 a share, compared with 17 cents a share a year ago.

Stripping out certain one-time items, the company reported adjusted earnings of $1.88 a share. Analysts polled by FactSet were expecting $1.76 a share.

Net sales rose to $1.82 billion, up from $1.75 billion a year prior. Analysts were expecting $1.81 billion.

The company lifted its outlook for full-year adjusted earnings of between $7.17 and $7.32 a share, compared with a previous range of $2.35 to $2.40 a share. Analysts currently expect $7.15 a share.

DuPont narrowed its guidance for net sales to a range of $7.16 billion to $7.19 billion, lowering the top end from $7.22 billion. Analysts are expecting $7.16 billion in net sales.

Organic sales rose 4% in the healthcare and water technologies segment and 3% in the diversified industrials segment.

"With continued strength across healthcare, industrial water and aerospace end-markets, we expect mid-single digit organic sales growth in the second half and remain focused on driving profitable growth and value creation for shareholders," said Chief Financial Officer Antonella Franzen.

The company also said it plans to repurchase $250 million worth of shares during the current third quarter.

 
 

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