DuPont Posts EPS Growth Despite Sales Drop; Plans Restructuring For Savings In 2024
Portfolio Pulse from Akanksha Bakshi
DuPont De Nemours, Inc. (NYSE:DD) reported a 8% YoY decline in Q3 FY23 sales to $3.06 billion, missing the consensus of $3.15 billion. The company also reported a 12% YoY increase in adjusted EPS to 92 cents, beating the consensus of 84 cents. DuPont announced plans for additional restructuring actions with savings expected to begin in Q1 2024. The company revised its FY23 net sales guidance to approximately $12.17 billion and adjusted EPS to approximately $3.45. DD shares were trading lower by 6.74% to $67.97.
November 01, 2023 | 6:04 pm
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NEGATIVE IMPACT
DuPont reported lower than expected Q3 FY23 sales and plans for restructuring, leading to a drop in its share price.
DuPont's lower than expected sales for Q3 FY23 and the announcement of restructuring plans have likely contributed to the drop in its share price. The company's revised FY23 guidance may also have influenced investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100