DuPont Beats Earnings Estimates. Why the Stock Is Falling

marketwatch2023-05-02

Materials giant DuPont managed to beat Wall Street’s first-quarter earnings estimates. Still, the stock was down. There is just too much weakness in the company’s electronics and industrial businesses...

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aaffsmcjje
2023-05-02
aaffsmcjje
If u know who owns dupont, u wouldn't let go of this stock

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Why the Stock Is Falling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-02 20:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/articles/dupont-stock-earnings-76b7b53c?mod=newsviewer_click><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Materials giant DuPont managed to beat Wall Street’s first-quarter earnings estimates. Still, the stock was down. There is just too much weakness in the company’s electronics and industrial businesses...</p>\n\n<a href=\"https://www.marketwatch.com/articles/dupont-stock-earnings-76b7b53c?mod=newsviewer_click\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DD","symbol_name":"杜邦","start_time":0,"source_url":"https://www.marketwatch.com/articles/dupont-stock-earnings-76b7b53c?mod=newsviewer_click","article_id":"2332959553","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2332959553","pubTimestamp":1683031674,"sourceInfo":{"source_id":"mwatch_stock","name":"Market Watch"},"weMediaInfo":null,"summary":"Materials giant DuPont managed to beat Wall Street’s first-quarter earnings estimates. Still, the st","collect":0,"end_time":0,"defaultTopTitle":"marketwatch.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"DD":"杜邦"},"translate_title":"杜邦公司盈利超过预期。股票为什么下跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DD":0.9},"content_text":"Materials giant DuPont managed to beat Wall Street’s first-quarter earnings estimates. Still, the stock was down. There is just too much weakness in the company’s electronics and industrial businesses for investors to feel comfortable.DuPont (ticker: DD) reported first-quarter adjusted earnings on Tuesday of 84 cents a share from $3 billion in sales. Wall Street was looking for 80 cents and $2.9 billion, respectively.In the second quarter, DuPont expect to earn 84 cents a share from $3 billion in sales. Wall Street had been forecasting profit of 88 cents on sales of $3.1 billion, respectively.Second-quarter guidance was a little light. DuPont also reduced its full-year financial guidance. The company now expects to earn between $3.55 and $3.70 a share for the year on sales of between $12.3 billion and $12.5 billion. In February, management expected earnings per share of between $3.50 and $4 and sales of $12.3 billion to $12.9 billion.Shares were down 5% in premarket trading Tuesday. S&P 500 and Dow Jones Industrial Average futures fell 0.4% and 0.1%, respectively.Sales in the company’s electronics and industrial-related businesses dropped 16% year over year, pressuring profit margins. Sales in DuPont’s water-related business grew about 1%.“We delivered earnings in line with our expectations for the first quarter of 2023 which reflects our team’s continued strong execution despite a lower volume environment in electronics and construction-related end markets,” said CEO Ed Breen in a news release. “Our businesses are well-equipped to leverage leading market positions and accelerate growth when consumer-driven, short-cycle electronics end markets recover.”Investors would like to know when the recovery in those markets will take place.Along with earnings, DuPont also announced a deal to acquire Spectrum Plastics, which sells primarily into medical end markets. Terms of the deal weren’t included in the earnings news release.Management hosts a conference call at 8 a.m. Eastern time to discuss results. 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