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DuPont (DD) Warms Up to Q2 Earnings: What's in the Offing?
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DuPont de Nemours, Inc. (DD - Free Report) is scheduled to come up with second-quarter 2024 results, before the opening bell on Jul 31.
The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters. In this timeframe, it delivered an earnings surprise of roughly 9%, on average. It posted an earnings surprise of roughly 21.5% in the last reported quarter.
DuPont is expected to have benefited from its innovation-driven investment and productivity actions in the second quarter. However, its results are likely to reflect the impacts of demand weakness in specific businesses.
DuPont’s shares are up 1.6% over a year compared with the 11.7% decline recorded by the industry it belongs to.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What do the Estimates Say?
The Zacks Consensus Estimate for revenues for the second quarter for DuPont is currently pinned at $3,035.8 million, suggesting an expected year-over-year decline of 1.9%.
Our estimate for the company’s Electronics & Industrial segment is pinned at $1,408.4 million, indicating a 7.4% year-over-year rise. The same for the Water & Protection unit is pegged at $1,359.5 million, suggesting a 9% year-over-year decline.
Some Factors to Watch For
DuPont is likely to have benefited from its cost and productivity measures and actions to drive growth through innovation in the quarter to be reported. Savings from its restructuring actions are expected to have aided its performance. DD is also expected to have gained from its pricing actions. Moreover, the Spectrum Plastics Group acquisition is likely to have contributed to second-quarter results.
However, DuPont’s water business is exposed to headwinds from the slowdown in China. Its water solutions business is likely to have seen sales moderation in the June quarter due to softer demand in China resulting from the slowdown in the industrial economy and inventory de-stocking. Weaker water demand in China is likely to have continued in the second quarter.
The company expects de-stocking within industrial-based end markets in the second quarter. It sees sales in the Water & Protection unit to decline by high-single digits in the second quarter factoring in the de-stocking impact in water solutions.
The Industrial Solutions business is also being challenged by de-stocking within biopharma applications. DuPont is expected to have witnessed additional channel inventory de-stocking within its industrial-based businesses in the second quarter.
Our proven model does not conclusively predict an earnings beat for DD this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for DuPont is +0.52%. The Zacks Consensus Estimate for earnings for the second quarter is currently pegged at 85 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: DD currently carries a Zacks Rank #4 (Sell).
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:
The consensus estimate for AEM’s earnings for the second quarter is currently pegged at 87 cents.
ATI Inc. (ATI - Free Report) , slated to release earnings on Aug 6, has an Earnings ESP of +3.50% and carries a Zacks Rank #3 at present.
The consensus mark for ATI’s second-quarter earnings is currently pegged at 58 cents.
Kinross Gold Corporation (KGC - Free Report) , scheduled to release second-quarter earnings on Jul 31, has an Earnings ESP of +8.04%.
The Zacks Consensus Estimate for Kinross Gold's earnings for the second quarter is currently pegged at 13 cents. KGC currently carries a Zacks Rank #2.
Image: Bigstock
DuPont (DD) Warms Up to Q2 Earnings: What's in the Offing?
DuPont de Nemours, Inc. (DD - Free Report) is scheduled to come up with second-quarter 2024 results, before the opening bell on Jul 31.
The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters. In this timeframe, it delivered an earnings surprise of roughly 9%, on average. It posted an earnings surprise of roughly 21.5% in the last reported quarter.
DuPont is expected to have benefited from its innovation-driven investment and productivity actions in the second quarter. However, its results are likely to reflect the impacts of demand weakness in specific businesses.
DuPont’s shares are up 1.6% over a year compared with the 11.7% decline recorded by the industry it belongs to.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What do the Estimates Say?
The Zacks Consensus Estimate for revenues for the second quarter for DuPont is currently pinned at $3,035.8 million, suggesting an expected year-over-year decline of 1.9%.
Our estimate for the company’s Electronics & Industrial segment is pinned at $1,408.4 million, indicating a 7.4% year-over-year rise. The same for the Water & Protection unit is pegged at $1,359.5 million, suggesting a 9% year-over-year decline.
Some Factors to Watch For
DuPont is likely to have benefited from its cost and productivity measures and actions to drive growth through innovation in the quarter to be reported. Savings from its restructuring actions are expected to have aided its performance. DD is also expected to have gained from its pricing actions. Moreover, the Spectrum Plastics Group acquisition is likely to have contributed to second-quarter results.
However, DuPont’s water business is exposed to headwinds from the slowdown in China. Its water solutions business is likely to have seen sales moderation in the June quarter due to softer demand in China resulting from the slowdown in the industrial economy and inventory de-stocking. Weaker water demand in China is likely to have continued in the second quarter.
The company expects de-stocking within industrial-based end markets in the second quarter. It sees sales in the Water & Protection unit to decline by high-single digits in the second quarter factoring in the de-stocking impact in water solutions.
The Industrial Solutions business is also being challenged by de-stocking within biopharma applications. DuPont is expected to have witnessed additional channel inventory de-stocking within its industrial-based businesses in the second quarter.
DuPont de Nemours, Inc. Price and EPS Surprise
DuPont de Nemours, Inc. price-eps-surprise | DuPont de Nemours, Inc. Quote
Zacks Model
Our proven model does not conclusively predict an earnings beat for DD this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for DuPont is +0.52%. The Zacks Consensus Estimate for earnings for the second quarter is currently pegged at 85 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: DD currently carries a Zacks Rank #4 (Sell).
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:
Agnico Eagle Mines Limited (AEM - Free Report) , scheduled to release earnings on Jul 31, has an Earnings ESP of +4.63% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for AEM’s earnings for the second quarter is currently pegged at 87 cents.
ATI Inc. (ATI - Free Report) , slated to release earnings on Aug 6, has an Earnings ESP of +3.50% and carries a Zacks Rank #3 at present.
The consensus mark for ATI’s second-quarter earnings is currently pegged at 58 cents.
Kinross Gold Corporation (KGC - Free Report) , scheduled to release second-quarter earnings on Jul 31, has an Earnings ESP of +8.04%.
The Zacks Consensus Estimate for Kinross Gold's earnings for the second quarter is currently pegged at 13 cents. KGC currently carries a Zacks Rank #2.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.