DuPont Q3 2021 Earnings Report
Key Takeaways
DuPont reported strong Q3 2021 results, exceeding expectations with an 18% increase in net sales to $4.3 billion and a 20% rise in operating EBITDA to $1.09 billion. The company is advancing its position as a premier multi-industrial company by acquiring Rogers Corporation and exploring options to divest a substantial portion of the Mobility & Materials segment.
GAAP EPS from continuing operations was $0.80; adjusted EPS was $1.15.
Net Sales reached $4.3 billion, up 18 percent, with organic sales up 16 percent versus the year-ago period.
Operating EBITDA increased to $1.09 billion, up 20 percent versus the year-ago period, with a margin expansion of 50 basis points.
Operating cash flow was $842 million, and free cash flow was $634 million during the quarter.
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DuPont Revenue by Segment
DuPont Revenue by Geographic Location
Forward Guidance
For full year 2021, DuPont estimates net sales to be between $16.34 billion and $16.40 billion, operating EBITDA between $4.14 billion and $4.17 billion, and adjusted EPS in the range of $4.18 to $4.22 per share.
Positive Outlook
- Strong demand trends are expected to continue across almost all end-markets.
Challenges Ahead
- Seeing a deceleration in order patterns stemming from the ongoing global semiconductor chip shortage, primarily in automotive end-markets.
- Global auto build estimates have come down 17 percent for the second half of 2021 versus estimates for the same period from just a few months ago.
Revenue & Expenses
Visualization of income flow from segment revenue to net income