DuPont raises annual profit forecasts after quarterly beat on price hikes, cost cuts
Article excerpt
Highlighted: the sentence this signal was extracted from
Aug 4 (Reuters) – Industrial materials maker DuPont raised its annual profit forecasts on Tuesday after beating second-quarter estimates, driven by price hikes and the impact of its capital deployment measures. The company has benefited from capital deployment actions such as the spin-off of its electronics business, debt reduction and share repurchases, as well as surcharges and price increases to offset higher feedstock and energy costs, at a time when the global chemicals industry has also grappled with weak demand in key end-markets. Ongoing tensions surrounding the Strait of Hormuz since late February have disrupted oil and petrochemical flows, tightening global chemical supplies and driving up plastics and polymer prices. The company lifted its 2026 adjusted core profit outlook to between $1.75 billion and $1.77 billion, from $1.73 billion to $1.76 billion forecast previously. It now expects adjusted earnings per share of $7.17 to $7.32, up from a prior forecast of $7.02 to $7.16 - a range that the company has restated to reflect its 1-for-3 reverse stock split, which took effect in June. CFO Antonella Franzen said continued strength across healthcare, industrial water and aerospace end-markets is expected to drive mid-single-digit organic sales growth in the second half of the year. Net sales at its healthcare and water technologies segment rose nearly 5%...
Keep reading with a free account
The rest of this article, and every signal for DuPont, is in your free account.