DuPont reports Q1 adjusted EPS 79c, consensus 65c

Reports Q1 revenue $2.93B, consensus $2.81B. “First quarter 2024 financial results exceeded our expectations driven by better-than-expected volumes along with a continued focus by our teams on operational execution and cost discipline,” said Ed Breen, DuPont executive chairman and CEO. “The first quarter was encouraging as the electronics market saw continued recovery, demonstrated by 11 percent year-over-year volume growth in Semiconductor Technologies and another quarter of volume growth in Interconnect Solutions. Channel inventory destocking within our industrial-based businesses has bottomed and assumed recovery timing is on track with our previous expectations. In addition, we delivered significant year-over-year cash flow improvement during the first quarter driven by our continued focus on working capital improvement,” Breen concluded.