DuPont said net sales for the 3-month period ended March 31, 2024 were $2.9 billion, down 3% from $3.0 billion in the same period a year earlier. The company said Water & Protection net sales were $1,291 million (down 11%), and Electronics & Industrial net sales were $1,365 million (up 5%).

1. 01

   DuPont said net sales for the 3-month period ended March 31, 2024 were $2.9 billion, down 3% from $3.0 billion in the same period a year earlier. The company said Water & Protection net sales were $1,291 million (down 11%), and Electronics & Industrial net sales were $1,365 million (up 5%).

2. 02

   The company said Electronics & Industrial Operating EBITDA rose 3% to $374 million, while Water & Protection Operating EBITDA fell 14% to $295 million. It cited the earnings contribution from the Spectrum acquisition and strength in Semiconductor Technologies as factors in the Electronics & Industrial increase, and lower sales volumes as the factor in the Water & Protection decrease.

3. 03

   The company said cash provided by operating activities from continuing operations in the first 3 months of 2024 was $493 million, up from $405 million in the same period a year earlier. It said cash used for financing activities was $691 million. The company cited the Q1 2024 ASR Transaction as the main driver of higher cash used for financing activities.

4. 04

   DuPont said it completed the $2 billion ASR transaction on Q1 2024, finishing its $5B Share Buyback Program, and that its Board approved a new share repurchase program of up to $1 billion. The company said it paid $500 million under the Q1 2024 ASR Transaction and, after settlement following quarter end, repurchased 6.9 million shares in total at an average price of $71.96.

Key figures

Quarter ended March 31, 2024

Revenue

$2.9B

Net income

$189M

EPS

$0.45

Operating cash flow

$493M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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