DuPont Guides for 3Q Adjusted Profit In Line With 2Q

By Matt Grossman

DuPont de Nemours, Inc. on Thursday forecast an adjusted profit in the third quarter in line with its second-quarter adjusted profit of 70 cents a share and with analysts' expectations.

DuPont estimated it would earn an adjusted profit of 71 cents a share to 73 cents a share in the quarter. Analysts polled by FactSet were anticipating a profit of 71 cents a share.

Third-quarter sales will be sequentially higher, but only slightly, DuPont said, as improving auto and residential demand will be largely offset by seasonal fluctuations in the company's nutrition and biosciences business. Energy, aerospace, industrial and commercial-construction customers will remain challenged, according to Chief Financial Officer Lori Koch, as the coronavirus pandemic proceeds.

In the second quarter, the pandemic led to a $2.5 billion noncash impairment charge in DuPont's transportation and industrial segment, the company said.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

July 30, 2020 06:39 ET (10:39 GMT)

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