DuPont Reports Second Quarter 2022 Results

Reading time ( words)

DuPont announced financial results for the second quarter of 2022.

"We delivered second quarter financial results ahead of expectations by maintaining a disciplined focus on pricing actions and operational excellence in the face of continued global supply chain and logistics challenges and ongoing inflationary pressure," said Ed Breen, DuPont Executive Chairman and Chief Executive Officer. "Underlying demand during the quarter in our key end-markets remained strong. Year-over-year and sequential sales and earnings growth in a volatile macro environment demonstrated the strength of our portfolio, our deep customer relationships and the leading market positions we hold globally."

"We continue to advance our previously announced portfolio actions of acquiring Rogers Corporation and divesting a substantial portion of the former Mobility & Materials segment," Breen continued. "Regarding Rogers, we expect to close the acquisition during the third quarter of 2022, with China being the last remaining jurisdiction requiring regulatory approval. For the M&M transactions, we continue to expect the completion of the sale of portions of this business to Celanese to close around year-end."

"As DuPont drives innovation investment to support long-term growth, we continue to introduce new products across our key growth pillars," Breen said. "We are excited to have won four 2022 Edison Awards highlighting innovative technologies, while also progressing well with our broader new product pipeline to support growth over the coming years."

Net sales 

  • Net sales increased 7% on organic sales growth of 9%; portfolio benefit of 1% was more than offset by a 3% currency headwind.
  • Organic sales growth of 9% consisted of an 8% increase in price and 1% increase in volume.
  • Price increase reflects actions taken to offset continued broad-based cost inflation.
  • Volume increase reflects continued strong demand in semiconductor, general industrial, water and construction end-markets, muted primarily by lower volumes from protective garments within Safety Solutions.
  • 9% organic sales growth in Water & Protection; 8% organic sales growth in Electronics & Industrial; 15% organic sales growth in retained businesses reported in Corporate & Other, which predominantly consists of our auto adhesives portfolio.
  • Organic sales growth in all regions globally, including 13% in U.S & Canada, 8% in EMEA and 6% in Asia Pacific.


Suggested Items

Catching Up with Prototron’s Lee Salazar: Sales in the New Frontier

07/12/2022 | Dan Beaulieu, D.B. Management Group
In the business world, salespeople arguably were the most affected by the pandemic. These professionals had to be the most creative when trying to ply their trade. They had to work from home, make phone calls in lieu of face to face, and learn how to use social media networks and newsletters. This was all to reach their customers—who also were working from home. Even when they got vaccinated and managed to hit the road, they often found that their customers’ doors were closed and they were not allowed inside, if their particular contact was there at all. Many times, they had to resort to meeting their customers in parking lots or restaurants with outdoor dining. And guess what? It’s not even over yet. So, how does a salesperson create success when so much seems to have changed? I reached out to Lee Salazar of Prototron to learn how he met the challenges, and his tips for others who are moving forward.

I-Connect007 Editor’s Choice: Five Must-Reads for the Week

07/08/2022 | Nolan Johnson, I-Connect007
In more than one conversation while discussing the industry this week, the themes have included industry turmoil, lots of business opportunities, and the urgent need to build out to meet changing demands. In fact, our July issue of PCB007 Magazine, which publishes later this month, will focus on these very topics. It’s definitely one not to be missed! These themes also emerged in this week’s top five news items as well. Top stories include an acquisition in the soldering machinery space, sales and service expansion in Mexico, industry data from SIA on semiconductor global sales data, and strong financial numbers from two China-based manufacturers. Now, with the U.S. Congress putting its focus on the PCB industry, things could really heat up. It’s going to be an interesting year.

Siber Circuits Owner Responds to ‘Rep’ Column: Encourage Communication

06/17/2022 | I-Connect007 Editorial Team
Simon Etherington, president and owner of Siber Circuits, felt so strongly about Dan Beaulieu’s weekly column titled “Reps Need a Better Deal, Part 2” that he put fingers to the keyboard and expressed his thoughts as a response. Beaulieu frequently writes about sales and marketing topics, particularly the relationship between the sales rep and the principal. Dan has argued that there needs to be improved communication, better language in the contracts, and a sales rep that’s eager to earn. See what Simon had to say.

Copyright © 2022 I-Connect007. All rights reserved.