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DuPont announced its financial results for the second quarter ended June 30, 2024.
"Our second quarter results reflect continued positive momentum led by further broad-based electronics market recovery, along with sequential improvement within all W&P lines of business, including water and medical packaging end-markets," said Lori Koch, DuPont Chief Executive Officer. "On a consolidated basis for the quarter, we saw improvement across all key financial metrics including a 14 percent year-over-year increase in adjusted earnings per share. I am very pleased by the continued focus and strong execution of our global team."
"Earlier this week we announced the closing of the Donatelle acquisition which expands our healthcare offerings through enhanced expertise in medical device markets closely related to the Spectrum business which we purchased last year," Koch continued. "In addition, we are advancing our strategic priorities and have made progress in planning key actions and milestones related to our previously announced intent to separate our electronics and water businesses."
Highlights:
- Net Sales of $3.2 billion increased 2%; organic sales flat versus year-ago period
- GAAP Income from continuing operations of $176 million; operating EBITDA of $798 million
- GAAP EPS from continuing operations of $0.40; adjusted EPS of $0.97
- Cash provided by operating activities from continuing operations of $527 million; adjusted free cash flow of $425 million
- Raises full year 2024 guidance for net sales, operating EBITDA and adjusted EPS
