DuPont 1Q Sales Rise
May 04 2021 - 6:47AM
Dow Jones News
By Dave Sebastian
DuPont de Nemours Inc. said its sales rose about 8% for the
first quarter as it saw gains in all segments despite rising
raw-material and logistics costs, as well as broader supply-chain
disruptions.
The Wilmington, Del.-based materials and chemicals company
Tuesday posted adjusted earnings of 91 cents a share. Analysts
polled by FactSet were expecting 75 cents a share.
Net income available for shareholders was $5.39 billion,
compared with a loss of $616 million in the same period last year.
It reported earnings of $8.90 a share, compared with a loss of 83
cents a share in the year-earlier period.
The results included income from discontinued operations of
$4.86 billion, while last year's included $533 million in goodwill
impairment charges. Earnings from continuing operations were 89
cents a share.
Net sales totaled $3.98 billion, compared with $3.67 billion, it
said. Analysts were expecting $3.85 billion.
"As we emerge from the Covid-19 pandemic, the leading positions
we hold in semiconductor, smartphones, automotive, water
filtration, and residential construction end-markets enabled us to
deliver strong first quarter results ahead of expectations with
organic sales growth in all three reporting segments," Executive
Chairman and Chief Executive Ed Breen said.
Electronic and industrial sales rose 17% to $1.3 billion. Water
and protection sales rose 4% to $1.3 billion. Mobility and
materials sales rose 11% to $1.2 billion.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
May 04, 2021 06:32 ET (10:32 GMT)
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