DuPont Revises Annual Guidance, Trails Wall Street Estimates, Shares Tick Lower

• DuPont de Nemours Inc (NYSE: DD) Q2 sales increased 7% Y/Y to $3.3 billion, missing the consensus of $4.2 billion.

• Organic growth of 9% consisted of an 8% increase in price and a 1% increase in volume bolstered by strong demand for semiconductor technologies and construction materials.

• Operating EBITDA reached $829 million+ 6% with a margin of almost 25%.

• The adjusted EPS of $0.88 increased 11% versus the year-ago period, missing the consensus of $1.13.

• The company said pricing actions continue to fully offset higher inflationary costs from raw materials, logistics, and energy.

• Guidance: DuPont lowered its FY22 adjusted EPS guidance to $3.27 - $3.43 from its previous guidance of $3.20 - $3.50 and down compared to the consensus of $4.94.

• It also toned down its annual sales forecast to $13 billion - $13.4 billion, from $13.3 - $13.7 billion outlined earlier.

• Dupont said net sales and operating core earnings in Q3 would be slightly weaker than Q2 due to currency headwinds and the absence of the Biomaterials sales contribution.

• For Q3, the company sees sales of $3.17 - $3.37 billion and adjusted EPS of $0.81, below the consensus of $4.17 billion and $1.10.

• Price Action: DD shares are down 1.18% at $59.49 during the premarket session on the last check Tuesday.

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