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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.
DuPont
DuPont
DuPont Revenue by Segment
DuPont Revenue by Geographic Location
Revenue by Segment
ElectronicsCo Revenue
CapyFin.comRevenue by Geographic Location
U.S. & Canada Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comLatin America Revenue
CapyFin.com 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