DuPont (NYSE: DD), an industrial materials company, shares rose during pre-market trading Tuesday amid news of better-than-expected earnings, a dividend increase, and a stock buyback program. The company has also cut back with asset sales in order to focus on fast-growing areas like the electronics industry.
The multi-industry specialty solutions company reported earnings of USD1.08 per share, compared to the expected USD1.00 a share. Revenue rose 6.23% to USD4.27 Billion, higher than analysts anticipated USD4.02 Billion.
“Our fourth-quarter financial results reflect a disciplined focus on pricing actions and operational excellence in a sustained environment of unprecedented global supply chain challenges and rising inflation,” said Ed Breen, DuPont CEO.
“Sustained strong demand in key end-markets such as electronics and water, along with our continued ability to offset raw material inflation with price, were critical to our fourth-quarter results. The leading market positions we hold globally, as well as our focus on execution, has led to sales and earnings growth throughout the year and will be key to our success in 2022.”
The company expects 2022 net sales to range anywhere from USD17.4 Billion and USD17.8 Billion. DuPont shares have fallen approximately 6.7% since the start of the year and have a current market cap of USD41.22 Billion.