DuPont de Nemours Lifts FY24 Guidance After Volumes Rise in 3Q

Dow Jones11-05 19:20

By Dean Seal

DuPont de Nemours raised earnings guidance for the year after volume gains in the third quarter translated to higher sales and profit.

The chemical and materials maker posted a profit of $454 million, or $1.08 a share, compared with $319 million, or 70 cents a share, in the same quarter a year ago.

Stripping out one-time items, adjusted earnings were $1.18 a share. Analysts polled by FactSet had been expecting $1.03 a share.

Sales rose 4% to $3.19 billion, in line with analyst forecasts, according to FactSet.

The top line got a boost from higher volumes that offset a slight step back in prices. The higher volumes came from growth in DuPont's electronics end market, along with a return to growth in its water solutions business.

DuPont lifted its adjusted earnings outlook to $3.90 a share, up from a prior range of $3.70 to $3.80 a share. Sales are now expected to come in at $12.37 billion, trimmed from a previous estimate for $12.40 billion to $12.50 billion.

Shares rose 2.7% to $84.07 in premarket trading.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

November 05, 2024 06:20 ET (11:20 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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