DuPont tops Q3 profit estimates, raises 2026 forecast

DuPont (DD) said on Nov. 3 that third-quarter adjusted earnings were $2.09 per share, topping the $1.92 consensus estimate compiled by Finnhub, and raised its full-year 2026 adjusted EPS forecast.

DuPont sells advanced solutions in healthcare, water, construction and industrial markets. The results cover continuing operations, which exclude the Electronics business it separated into Qnity Electronics in November 2025 and the Aramids business it sold to Arclin in April 2026.

Adjusted EPS rose from $1.29 a year earlier. GAAP earnings per share from continuing operations were $1.24, up from $0.70.

Here's how the company did:

• Adjusted EPS: $2.09 vs. $1.29 a year earlier and $1.92 expected
• Revenue: $1.87 billion vs. $1.80 billion a year earlier and $1.9 billion expected
• GAAP EPS from continuing operations: $1.24 vs. $0.70 a year earlier
• Operating EBITDA: $469 million vs. $436 million a year earlier

Net sales rose 4%, with organic sales up 5% and a 1% currency headwind. Revenue was slightly below the $1.9 billion estimate.

Operating EBITDA, or earnings before interest, taxes, depreciation and amortization, rose 8%. Its margin widened to 25.1% from 24.3%, or 80 basis points, the company said, on organic growth and productivity.

GAAP income from continuing operations rose 68% to $171 million. The company said higher segment earnings and lower interest expense and transaction costs drove the gain.

Cash provided by operating activities from continuing operations rose 27% to $410 million. Transaction-adjusted free cash flow was $341 million, down 1% from $346 million, and conversion was 121%.

Net income has moved from a loss of $126.0 million in the fourth quarter of 2025 to a profit of $161.0 million in the first quarter of 2026, according to its SEC filings.

CEO Lori Koch said, "We delivered another quarter of consistent, high-quality performance, once again exceeding our financial guidance."

2026 guidance

DuPont raised its full-year 2026 adjusted EPS forecast to $7.47 to $7.52. The company gave a range of $7.17 to $7.32 on Aug. 4.

It now expects operating EBITDA of about $1.785 billion, against the $1.750 billion to $1.770 billion range it gave in August.

Organic growth is now expected to be about 4.5%, compared with the slightly above 4% it forecast in August. For the fourth quarter, the company expects adjusted EPS of $1.90 to $1.95.

DuPont Chief Financial Officer Antonella Franzen said, "We are again raising our full-year financial outlook."

Segment results

Healthcare & Water Technologies net sales rose 4% to $865 million, from $832 million a year earlier. Operating EBITDA was $263 million, up 7%, and its margin was 30.4%.

Healthcare sales rose in the mid-single digits on an organic basis, led by personal protection and medical packaging. Water sales rose in the low single digits, partly offset by continued disruptions in the Middle East.

Diversified Industrials net sales rose 4% to $1.00 billion, from $963 million. Operating EBITDA rose 11% to $242 million, and its margin widened to 24.1%.

Building Technologies sales rose in the mid-single digits organically, on growth in North America and Asia. Industrial Technologies sales rose in the mid-single digits organically, on strength in aerospace and electric vehicle battery applications.

The company said third-quarter 2025 net sales included a $15 million benefit from order timing shifted from the fourth quarter of 2025.

Cash and capital returns

DuPont completed a $250 million accelerated share purchase in the third quarter and substantially completed $100 million of open market repurchases. It intends to repurchase $250 million of shares in the fourth quarter.

Separation-related transaction costs and other payments were $2 million in the quarter, down from $98 million a year earlier. Acquisition, integration and separation costs fell to $15 million from $62 million.