DowDuPont Inc. (DWDP - Free Report) , which was formed through the merger of Dow Chemical and DuPont, engages in agriculture, materials science, and specialty products businesses globally.
DowDuPont raked in adjusted earnings of $1.37 per share for the second quarter that topped the Zacks Consensus Estimate of $1.33.
DowDuPont logged net sales of $24,245 million. It surpassed the Zacks Consensus Estimate of $23,671.5 million.
Investors should note that the earnings estimate for DowDuPont for the second quarter have been stable over the past month.
Key Stats/Developments to Note
The company realized cost synergy savings of more than $375 million in the second quarter. It now expects to achieve year-over-year savings of $1.4 billion this year, a more than 15% increase from its earlier target. The company also returned nearly $2 billion to shareholders in the second quarter through dividends and share repurchases.
DowDuPont expects net sales in the third quarter to increase more than 10% and operating EBITDA to rise more than 12% on a year-over-year basis.
DowDuPont currently carries a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DowDuPont’s shares were inactive in pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on DowDuPont’s earnings report!
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