DuPont de Nemours Inc reported earnings from continuing operations of 80 cents per share in the third quarter of 2021, rising from 11 cents per share a year earlier. Adjusted earnings came in at $1.15 per share, beating analysts’ estimate of $1.12 per share. Quarterly net sales stood at $4,271 million, up 18% from the same period in 2020 and compared to analysts’ estimate of $4,093.3 million. DuPont saw a 16% growth in organic sales in the quarter, thanks to a 10% gain in volumes and a 6% rise in prices. The company also benefited from stronger demand across electronics, automotive, and construction end markets.
DuPont’s Electronics & Industrial unit achieved net sales of $1.5 billion in the quarter, up 21% from a year earlier. The Water & Protection segment recorded a 12% year-on-year growth in sales at $1.4 billion. Meanwhile, the Mobility & Materials division posted sales of $1.3 billion, representing a year-on-year jump of about 30%.
DuPont’s cash and cash equivalents came in at $1,670 million at the end of September, down around 58% from a year earlier. Long-term debt was down roughly 51% to $10,629 million. The company generated an operating free cash flow of $634 million and a cash flow of $842 million in the third quarter when it returned about $657 million to shareholders through dividends and share repurchases. DuPont’s shares have climbed 19.5% in the past year, compared to a 22.6% gain in the industry.
