By Dave Sebastian
DuPont de Nemours Inc. said its sales rose about 8% for the first quarter as it saw gains in all segments despite rising raw-material and logistics costs, as well as broader supply-chain disruptions.
The Wilmington, Del.-based materials and chemicals company Tuesday posted adjusted earnings of 91 cents a share. Analysts polled by FactSet were expecting 75 cents a share.
Net income available for shareholders was $5.39 billion, compared with a loss of $616 million in the same period last year. It reported earnings of $8.90 a share, compared with a loss of 83 cents a share in the year-earlier period.
The results included income from discontinued operations of $4.86 billion, while last year's included $533 million in goodwill impairment charges. Earnings from continuing operations were 89 cents a share.
Net sales totaled $3.98 billion, compared with $3.67 billion, it said. Analysts were expecting $3.85 billion.
"As we emerge from the Covid-19 pandemic, the leading positions we hold in semiconductor, smartphones, automotive, water filtration, and residential construction end-markets enabled us to deliver strong first quarter results ahead of expectations with organic sales growth in all three reporting segments," Executive Chairman and Chief Executive Ed Breen said.
Electronic and industrial sales rose 17% to $1.3 billion. Water and protection sales rose 4% to $1.3 billion. Mobility and materials sales rose 11% to $1.2 billion.
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(END) Dow Jones Newswires