Materials producer DuPont de Nemours Inc. expects to generate over $17 billion in sales this year even after posting a lower bottom line in the last quarter of 2022, the firm announced in a filing.
- DuPont’s fourth-quarter net income fell to $226 million from $230 million the previous year. Diluted earnings per common share for the quarter climbed to $0.39 from $0.30.
- Net sales for the quarter stood at $4.271 billion, up from $3.750 billion the same quarter in 2020. This brought the full-year net sales up to $16.653 billion from $14.338 billion the previous year.
- Chief Financial Officer Lori Koch said DuPont expects 2022 net sales between $17.4 billion and $17.8 billion and operating EBITDA between $4.3 billion and $4.5 billion. The adjusted EPS guidance is set at $4.60 to $4.90 per share.
- First-quarter net sales are expected to fall between $4.2 billion to $4.3 billion, operating EBITDA between $940 million and $980 million, and adjusted EPS between $0.94 to $1.00 per share.
Koch noted that inflation will likely continue to impact margins, which is predicted to be flat in the first quarter of the year. DD is up 4.78%.