DuPont cuts FY23 adjusted EPS view to $3.40-$3.50 from $3.55-$3.70

Consensus $3.57. Raises FY23 revenue view to $12.45B-$12.55B from $12.3B-$12.5B, consensus $12.37B. “As we look at the current demand environment, we continue to expect fairly steady demand in most of our industrial-based end-markets within the E&I and W&P segments, although we expect sales moderation in our Water Solutions business due to slower demand in China,” said Lori Koch, CFO of DuPont. “Within electronics markets, we saw sequential sales improvement in our Interconnect Solutions business during the second quarter with mid-single digit sequential sales lift expected in the third quarter. In Semiconductor Technologies, we assume sales in the second half of 2023 will improve slightly after setting an expected bottom in the second quarter. Our third quarter and revised 2023 full year guidance reflects these assumptions, as well as the estimated contribution from Spectrum beginning August 1.”