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DuPont
🇺🇸 NYSE:DD
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Jun 30, 2022

DuPont Q2 2022 Earnings Report

DuPont exceeded expectations through disciplined pricing and operational excellence, navigating global supply chain challenges and inflationary pressures, while underlying demand in key end-markets remained strong.

Key Takeaways

DuPont reported Q2 2022 financial results ahead of expectations, with net sales of $3.3 billion, a 7% increase from the previous year, and organic sales growth of 9%. The company's adjusted EPS increased by 11% to $0.88, and operating EBITDA increased by 6% to $829 million.

Net sales increased 7% to $3.3 billion; organic sales increased 9% versus year-ago period.

GAAP income from continuing operations was $365 million; operating EBITDA of $829 million increased 6% versus year-ago period; consistent operating EBITDA margin year-over-year.

GAAP EPS from continuing operations was $0.71; adjusted EPS of $0.88 increased 11% versus year-ago period.

Approximately $665 million of capital was returned to shareholders through $500 million in share repurchases and ~$165 million in dividends.

Total Revenue
$3.32B
Previous year: $4.14B
-19.7%
EPS
$0.88
Previous year: $1.06
-17.0%
Operating EBITDA
$829M
Previous year: $1.06B
-21.8%
Gross Profit
$1.17B
Previous year: $1.48B
-20.7%
Cash and Equivalents
$1.44B
Previous year: $3.96B
-63.7%
Total Assets
$44.4B
Previous year: $45.8B
-3.1%

DuPont

DuPont

DuPont Revenue by Segment

DuPont Revenue by Geographic Location

Forward Guidance

DuPont narrowed its full year 2022 adjusted EPS guidance from $3.20-$3.50 to $3.27-$3.43 while maintaining the mid-point of our previous range. The updated full year 2022 guidance ranges for net sales and operating EBITDA reflect incremental foreign currency headwinds and the removal of contribution from the Biomaterials business, which was divested on May 31, 2022.

Positive Outlook

  • Demand and overall order trends in key end-markets remain solid.
  • Third quarter net sales are expected to be up 2 percent at the mid-point of the range, or up high single-digits on an organic basis.
  • Focus on execution
  • Strong first half 2022 results reflect positively on the secular end-markets
  • Maintaining the mid-point of our previous range

Challenges Ahead

  • Future uncertainties continue to exist including continued inflationary pressure.
  • Challenging supply chains
  • U.S. dollar strength against global currencies.
  • Third quarter 2022 net sales and operating EBITDA to be slightly weaker than second quarter 2022
  • Negative impact during the third quarter on operating EBITDA of approximately $15 million from unplanned downtime at our Spruance site

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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