DuPont de Nemours, a leading chemical company, has announced impressive sales and adjusted earnings per share for the second quarter. However, the company has revised its adjusted EPS outlook for the year. Here are the key details:
Sales Performance
- Sales decreased by 7% to $3.09 billion in the second quarter.
- This surpassed analysts’ expectations of $3.03 billion and management’s projections of $3.02 billion.
Impressive Earnings
- After excluding one-time items, earnings per share reached 85 cents.
- This exceeded analysts’ forecast of 83 cents.
- DuPont had previously anticipated adjusted earnings per share of 84 cents.
Future Outlook
Sales Expectations
- DuPont has raised its sales outlook for the year.
- The company now expects sales to range between $12.45 billion and $12.55 billion.
- This is an increase from the previous range of $12.3 billion to $12.5 billion.
- Analysts polled by FactSet predict slightly lower full-year sales of $12.41 billion.
- For the third quarter, DuPont predicts sales of $3.15 billion, which falls below analysts’ views of $3.20 billion.
Adjusted Earnings Guidance
- The company has revised its adjusted earnings per share outlook for the year.
- The new range is $3.40 to $3.50, compared to the previous range of $3.55 to $3.70.
- Analysts polled by FactSet anticipate higher adjusted earnings per share of $3.58.
- Additionally, DuPont expects third-quarter adjusted earnings of 84 cents, below analysts’ forecast of 93 cents.
Market Environment
DuPont’s Chief Executive, Ed Breen, highlighted the impact of ongoing consumer-driven business softness, particularly within the electronics sector. However, there was some positive news as the Interconnect Solutions business showed sequential sales improvement in the second quarter.
