DuPont Raises Full-Year Sales Outlook

By Matt Grossman

DuPont de Nemours Inc. Tuesday raised its sales guidance for the full year and issued third-quarter sales guidance that was ahead of analysts expectations.

For 2021, DuPont estimates its sales will be $16.45 billion to $16.55 billion, with adjusted earnings of $4.24 a share to $4.30 a share. In May, DuPont had said it was expecting sales of $15.7 billion to $15.9 billion and adjusted earnings of between $3.60 and $3.75 a share.

Since May, the way that DuPont treats intangible amortization expenses in its adjusted earnings has changed, the company said. DuPont's adjusted per-share earnings figures now exclude all amortization of intangible assets and won't differentiate based on the origin of the intangibles anymore, the company said.

For the third quarter, DuPont expects sales of $4.18 billion to $4.23 billion, and adjusted earnings of $1.11 to $1.13 a share. Analysts polled by FactSet had been forecasting sales of $4 billion and earnings of 99 cents a share.

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(END) Dow Jones Newswires

August 03, 2021 06:37 ET (10:37 GMT)

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