DuPont Reports Q3 2026 Results, Beats Expectations and Raises Full-Year Guidance

DuPont de Nemours, Inc. (NYSE: DD) Q3 2026 Earnings Analysis

Executive Summary

On November 3, 2026, DuPont filed a Form 8-K under Item 2.02 reporting financial results for the third quarter ended September 30, 2026. The company exceeded its quarterly guidance and subsequently raised full-year 2026 financial expectations across all primary metrics.

Key Financial Highlights

• Net Sales: $1.868 billion, up 4% compared to $1.795 billion in Q3 2025. Organic sales rose 5%, offset by a 1% foreign currency headwind.
• GAAP Income from Continuing Operations: $171 million ($1.24 per share), up 68% and 77% YoY, respectively.
• Operating EBITDA: $469 million (+8% YoY), generating an Operating EBITDA margin of 25.1% (+80 bps YoY).
• Adjusted EPS: $2.09 (+62% YoY vs. $1.29 in Q3 2025), driven by segment earnings growth, reduced interest expense, lower tax rates, and share repurchases.
• Cash Flow: Cash provided by operating activities from continuing operations was $410 million (+27% YoY). Transaction-adjusted free cash flow was $341 million, translating to a 121% conversion rate.

Segment Performance

1. Healthcare & Water Technologies:
   • Net Sales: $865 million (+4% YoY, +4% organic).
   • Operating EBITDA: $263 million (+7% YoY; 30.4% margin).
   • Driven by mid-single-digit organic growth in personal protection and medical packaging, alongside low-single-digit gains in industrial water and semiconductor markets.
2. Diversified Industrials:
   • Net Sales: $1,003 million (+4% YoY, +5% organic).
   • Operating EBITDA: $242 million (+11% YoY; 24.1% margin).
   • Driven by strength in aerospace, electric vehicle battery applications, and regional building technologies expansion.

Updated 2026 Financial Outlook

• Q4 2026 Guidance: Net sales of ~$1.825 billion, Operating EBITDA of ~$455 million, and Adjusted EPS of $1.90–$1.95.
• Full-Year 2026 Guidance: Net sales of ~$7.190 billion, Operating EBITDA of ~$1.785 billion, and Adjusted EPS raised to $7.47–$7.52 (expected organic growth of ~4.5%).

Capital Allocation & Corporate Actions

• Completed a $250 million accelerated share repurchase and substantially finished $100 million in open market repurchases during Q3.
• Announced plans to repurchase an additional $250 million in common shares during Q4 2026.