DuPont Reveals Increase In Q2 Bottom Line; Narrows FY22 Guidance - Update

EI DuPont De Nemours & Co. (DD) released a profit for its second quarter that increased from the same period last year

The company's bottom line totaled $787 million, or $1.55 per share. This compares with $478 million, or $0.90 per share, in last year's second quarter.

Excluding items, EI DuPont De Nemours & Co. reported adjusted earnings of $446 million or $0.88 per share for the period.

The company's revenue for the quarter rose 7.1% to $3.32 billion from $3.10 billion last year.


DuPont narrowed its full-year earnings guidance.

The company now expects earnings for the year of $3.27-$3.43, compared to $3.20-$3.50 provided earlier, citing foreign currency headwinds and absence of contribution from Biomaterials business, which was sold in May.

On average, 13 analysts polled by Thomson Reuters expect earnings of $4.30 per share for the year. Analysts' estimates typically exclude special items.

Net sales for the year are now expected to be $13 billion to $13.40 billion, while analysts expect $16.5 billion for the year.

For the third quarter, the company expects adjusted earnings per share of around $0.81 and net sales between $3.17 billion and $3.37 billion. Analysts expect earnings of $1.1 per share on sales of $4.17 billion.

Lori Koch, chief financial officer, said the company is also expecting third-quarter net sales and operating EBITDA to be slightly weaker than second quarter 2022 .

EI DuPont De Nemours & Co. earnings at a glance (GAAP) :

-Earnings (Q2): $787 Mln. vs. $478 Mln. last year.
-EPS (Q2): $1.55 vs. $0.90 last year.
-Revenue (Q2): $3.32 Bln vs. $3.10 Bln last year.

Full year EPS guidance: $3.27 -$3.43
Full year revenue guidance: $13,000 -$13,400 Mln

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