Adjusted EPS of $1.88 beats consensus as shares recover from early 8% drop to trade down less than 1%
DuPont reported second-quarter revenue of $1.82 billion, up 4% year over year and above the $1.81 billion consensus estimate. Adjusted earnings per share reached $1.88, surpassing the $1.76 forecast and marking a 48% increase from the prior year.
The company’s guidance for the second half of the year disappointed investors initially, driving shares down nearly 8% at the open. However, the stock recovered to trade down less than 1% by afternoon, outperforming the S&P 500’s 11% year-to-date gain.
DuPont’s portfolio streamlining, including the spin-off of its electronics division and sale of its synthetic fibers business, has focused operations on healthcare and clean-water technologies. The stock’s 52-week high of $155 was reached in February.