As the coronavirus pandemic bolsters demand for products such as Tyvek protective fabric, DuPont lifted its first-quarter earnings outlook. Besides withdrawing its full-year guidance, the company also announced steps to improve its balance sheet because the virus’s longer-term impacts remain unclear on markets such as oil and gas and automotive.
DuPont expects Q1 2020 adjusted earnings of $0.82–0.84/share. That is well above the analysts’ consensus estimate of $0.68/share. On 11 March, the company’s initial Q1 guidance of $0.70–0.74/share issued.
On net sales of approximately $5.2 billion, Q1 net earnings are expected to be $.70–$1.00/share. The loss from continuing operations in Q1 expected in the range of $510–725 million operating EBITDA of approximately $1.3 billion. Due to the significant downturn in automotive production, DuPont has also idled production at several manufacturing sites. The company will report Q1 results on 5 May.
