Page 17 - Ed Breen News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Net Sales of $2.9 billion decreased 3%; organic sales decreased 6% versus year-ago period GAAP Income from continuing operations of $183 million; operating...

"Channel inventory destocking within our industrial-based businesses has bottomed and assumed recovery timing is on track with our previous expectations," DuPont chief executive officer Ed Breen said. DuPont raised its adjusted earnings per share between $3.45 and $3.75 from $3.25 to $3.65 it had previously forecast. "Year over year sales and earnings growth assumed in the second half of 2024 is expected to be driven by further electronics market recovery and a return to volume growth in its water and protections unit," said Lori Koch, chief financial officer of DuPont.

DuPont reported Q1 fiscal 2024 sales decline of 3% to $2.031B, beating consensus. Organic sales fell 6%. Q2 outlook: $3.025B sales, $0.84 EPS. 2024 outlook raised: $3.45-$3.75 EPS, $12.1B-$12.4B revenue.

Once the company works through the excess inventory in every business line, we expect the stock to command a higher multiple. 

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