(Reuters) -Industrial materials maker DuPont ( DD ) forecast current-quarter sales and adjusted profit below Wall Street estimates on Thursday to reflect the planned spinoff of its Qnity electronics unit and Aramids business divestiture.

The Wilmington, Delaware-based company has been undergoing a strategic reorganization and attempting to streamline its portfolio as the chemicals industry grapples with higher feedstock and energy costs.

Weak demand in key end markets, especially in Europe - where strict regulations have raised the cost of manufacturing - also weighs on the industry.

In August, DuPont ( DD ) had said it would sell its heat-resistant fiber business, Aramids, which houses brands such as body armor maker Kevlar, to peer Arclin for $1.8 billion.

The company's board also greenlit the previously announced separation of its electronics business, Qnity Electronics - a segment that includes semiconductor technologies and interconnect solutions - in October.

For the fourth quarter, DuPont ( DD ) expects adjusted profit of 43 cents per share, slightly below the expectation of 45 cents, according to data compiled by LSEG.

The company forecast net sales of about $1.69 billion, also below analysts' average estimate of $1.72 billion.

Net sales in the industrials segment climbed 4.8% to $1.8 billion in the reported quarter, while the electronics segment saw an 11.2% increase to $1.28 billion, both compared to last year.

DuPont ( DD ) also announced a new share repurchase authorization of up to $2 billion of its common stock and expects to launch a $500 million accelerated share repurchase imminently.

The company now expects full-year adjusted earnings of about $1.66 per share compared with analysts' average estimate of $2.67 per share.

On an adjusted basis, DuPont ( DD ) reported profit of $1.09 per share for the three months ended September 30, compared with analysts' estimate of $1.06 apiece.