We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
DuPont de Nemours, Inc. (DD - Free Report) recorded earnings (on a reported basis) from continuing operations of 49 cents per share for third-quarter 2019, up from earnings of 15 cents per share in the comparable quarter a year ago.
Barring one-time items, earnings were 96 cents per share for the reported quarter, beating the Zacks Consensus Estimate of 95 cents. The company benefited from higher pricing, portfolio actions and cost control amid a challenging macroeconomic environment.
DuPont raked in net sales of $5,426 million, down around 5% from the comparable quarter a year ago. It, however, surpassed the Zacks Consensus Estimate of $5,409.9 million.
Net sales fell 2% on an organic basis as 1% higher pricing was more than offset by 3% lower volumes. Currency and portfolio headwinds lowered sales by 2% and 1%, respectively.
Segment Highlights
The company’s Electronics & Imaging segment recorded net sales of $934 million in the quarter, down 1% on a year over year comparison basis. Organic sales fell 1%. Higher volumes in interconnect solutions were masked by weaker volumes in advanced printing and semiconductor technologies.
At the Nutrition & Biosciences unit, sales fell 1% to $1.5 billion. Organic sales went up 2% year over year on 1% higher pricing and 1% increased volumes. Higher volumes in food & beverage and pharma solutions businesses coupled with higher pricing in pharma solutions drove growth in organic sales.
Net sales for the Transportation & Industrial division were $1.2 billion in the reported quarter, down 11% year over year. Organic sales fell 10% as 1% higher pricing was more than offset by a 11% decline in volumes due to lower auto builds, soft electronics demand and de-stocking in the automotive channel.
Net sales in the Safety & Construction unit were $1.3 billion, down 3%. Organic sales rose 2% on the back of a 3% price improvement, partly offset by 1% lower volume. Volume improvement in the water solutions business was masked by weakness in the shelter solutions business due to continued softness in construction demand in North America.
Foe the non-core reporting segment, net sales fell 12% to $431 million. Organic sales declined 8%, impacted by lower volumes. Prices rose 2% in the quarter.
Financials
DuPont had cash and cash equivalents of $2,107 million at the end of the quarter. Long-term debt was $ 15,610 million.
Outlook
DuPont narrowed its adjusted earnings per share guidance to the range of $3.77-$3.82 for 2019 from its prior view of $3.75-$3.85. The company continues to see organic sales for the year to be modestly down from last year.
Price Performance
DuPont’s shares are down around 8.5% over the past three months, compared with the roughly 1.7% rise recorded by the industry.
Agnico Eagle has a projected earnings growth rate of 168.6% for the current year. The company’s shares have rallied 69% in a year’s time.
Kinross has projected earnings growth rate of 210% for the current year. The company’s shares have surged around 85% in a year’s time.
Franco-Nevada has estimated earnings growth rate of 39.3% for the current year. The company’s shares have gained roughly 52% in a year’s time.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Image: Bigstock
DuPont (DD) Beats on Q3 Earnings & Sales, Narrows EPS View
DuPont de Nemours, Inc. (DD - Free Report) recorded earnings (on a reported basis) from continuing operations of 49 cents per share for third-quarter 2019, up from earnings of 15 cents per share in the comparable quarter a year ago.
Barring one-time items, earnings were 96 cents per share for the reported quarter, beating the Zacks Consensus Estimate of 95 cents. The company benefited from higher pricing, portfolio actions and cost control amid a challenging macroeconomic environment.
DuPont raked in net sales of $5,426 million, down around 5% from the comparable quarter a year ago. It, however, surpassed the Zacks Consensus Estimate of $5,409.9 million.
Net sales fell 2% on an organic basis as 1% higher pricing was more than offset by 3% lower volumes. Currency and portfolio headwinds lowered sales by 2% and 1%, respectively.
Segment Highlights
The company’s Electronics & Imaging segment recorded net sales of $934 million in the quarter, down 1% on a year over year comparison basis. Organic sales fell 1%. Higher volumes in interconnect solutions were masked by weaker volumes in advanced printing and semiconductor technologies.
At the Nutrition & Biosciences unit, sales fell 1% to $1.5 billion. Organic sales went up 2% year over year on 1% higher pricing and 1% increased volumes. Higher volumes in food & beverage and pharma solutions businesses coupled with higher pricing in pharma solutions drove growth in organic sales.
Net sales for the Transportation & Industrial division were $1.2 billion in the reported quarter, down 11% year over year. Organic sales fell 10% as 1% higher pricing was more than offset by a 11% decline in volumes due to lower auto builds, soft electronics demand and de-stocking in the automotive channel.
Net sales in the Safety & Construction unit were $1.3 billion, down 3%. Organic sales rose 2% on the back of a 3% price improvement, partly offset by 1% lower volume. Volume improvement in the water solutions business was masked by weakness in the shelter solutions business due to continued softness in construction demand in North America.
Foe the non-core reporting segment, net sales fell 12% to $431 million. Organic sales declined 8%, impacted by lower volumes. Prices rose 2% in the quarter.
Financials
DuPont had cash and cash equivalents of $2,107 million at the end of the quarter. Long-term debt was $ 15,610 million.
Outlook
DuPont narrowed its adjusted earnings per share guidance to the range of $3.77-$3.82 for 2019 from its prior view of $3.75-$3.85. The company continues to see organic sales for the year to be modestly down from last year.
Price Performance
DuPont’s shares are down around 8.5% over the past three months, compared with the roughly 1.7% rise recorded by the industry.
Zacks Rank & Key Picks
DuPont currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth a look in the basic materials space include Agnico Eagle Mines Limited (AEM - Free Report) , Kinross Gold Corporation (KGC - Free Report) and Franco-Nevada Corporation (FNV - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Agnico Eagle has a projected earnings growth rate of 168.6% for the current year. The company’s shares have rallied 69% in a year’s time.
Kinross has projected earnings growth rate of 210% for the current year. The company’s shares have surged around 85% in a year’s time.
Franco-Nevada has estimated earnings growth rate of 39.3% for the current year. The company’s shares have gained roughly 52% in a year’s time.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Download Free Report Now >>