Feb 11 (Reuters) - DuPont de Nemours ( DD ) raised its
2025 profit forecast and beat fourth-quarter earnings estimates
on Tuesday, as the industrial materials maker benefited from
strong demand for electronics and a recovery in its water and
protection segment.
Improvement in U.S. manufacturing activity and a growing
market for semiconductors used in artificial intelligence-based
technology boosted profit for DuPont ( DD ), which is involved in chip
fabrication, packaging and assembly.
DuPont's ( DD ) electronics and industrial unit, the biggest in
terms of turnover, reported a 10.6% jump in fourth-quarter net
sales.
Meanwhile, its water and protection segment, which had been
on a decline due to weak China demand, posted a 6.4% increase in
sales, largely through higher volumes for medical packaging
products in healthcare markets.
Earlier this year, the company said it had plans to split
into three publicly traded companies to pursue focused growth,
but has now decided against selling its water and protection
unit, which manufactures water purification technologies and
provides medical packaging among other services.
DuPont ( DD ) now plans to spin off only its electronics business
and expects to complete the transaction by November 1.
It expects full-year adjusted earnings between $4.30 and
$4.40 per share, higher than its forecast of $3.70 to $3.80 for
2024.
Analysts expect it to post adjusted earnings of $4.33 per
share for 2025.
The company forecast sales of $12.8 billion to $12.9
billion, also above its last year's range. Analysts, however,
are expecting $12.92 billion.
For the fourth quarter, Dupont ( DD ) reported an adjusted profit
of $1.13 per share, beating analysts' average expectation of 98
cents.