DuPont Raises 2026 Guidance as Q3 Organic Sales Grow 5%

DuPont de Nemours Inc. raised its full-year 2026 financial guidance after third-quarter organic sales increased 5% and adjusted earnings per share rose 31% from the prior-year pro forma level. Growth in healthcare and aerospace, combined with productivity gains and operating leverage, lifted profitability and cash generation.

Net sales from continuing operations rose 4% year over year to $1.87 billion. Organic sales, which exclude currency and portfolio effects, grew 5%, while currency reduced growth by one percentage point. DuPont said organic growth would have been 7% excluding a $30 million benefit in the third quarter of 2025 from orders shifted forward from the fourth quarter because of separation-related activities.

GAAP income from continuing operations increased to $171 million from $102 million, and the corresponding margin rose to 9.2% from 5.7%. Operating EBITDA, a non-GAAP measure, increased 8% to $469 million. The operating EBITDA margin expanded to 25.1% from 24.3% as organic growth and productivity gains more than offset other pressures. Compared with DuPont’s prior-year pro forma results, the margin increased 90 basis points.

Adjusted EPS was $2.09, up 62% from the reported $1.29 a year earlier and 31% from pro forma adjusted EPS of $1.59. Operations contributed to the improvement, while lower net interest expense, a lower tax rate and a reduced share count also supported per-share earnings.

Transaction-adjusted free cash flow totaled $341 million, representing conversion of 121% of adjusted earnings. The measure reflected $410 million of cash provided by continuing operations, less $71 million of capital spending and adjusted for $2 million of separation-related transaction costs and other payments.

Growth Across Both Segments

Healthcare & Water Technologies revenue increased 4% to $865 million, with organic sales also up 4%. Healthcare Technologies delivered mid-single-digit organic growth, led by personal protection and medical packaging. Water Technologies recorded low-single-digit organic growth as demand in industrial water, semiconductor and specialty markets was partly offset by disruptions in the Middle East. Excluding the Middle East, Water Technologies organic sales grew at a mid-single-digit rate.

The segment’s operating EBITDA increased to $263 million from $246 million, while its margin expanded to 30.4% from 29.6%.

Diversified Industrials revenue rose 4% to $1.00 billion, including 5% organic growth and a one-percentage-point currency headwind. Building Technologies posted mid-single-digit organic growth, supported by North America and Asia. Industrial Technologies also generated mid-single-digit organic growth, with continued strength in aerospace and electric-vehicle battery applications.

Diversified Industrials operating EBITDA increased to $242 million from $219 million. Its margin rose to 24.1% from 22.7%.

DuPont said its business-system initiatives generated more than 2% net productivity and improved on-time, in-full delivery by more than 100 basis points. The company also highlighted double-digit order growth trends and customer wins in battery thermal management, aerospace sealing components and desalination ultrafiltration modules.

Full-Year Outlook Raised

DuPont now expects full-year 2026 net sales of approximately $7.19 billion, compared with its previous range of $7.16 billion to $7.19 billion. Operating EBITDA is projected at about $1.785 billion, above the prior range of $1.75 billion to $1.77 billion. Adjusted EPS is expected to be between $7.47 and $7.52, up from the previous range of $7.17 to $7.32.

The guidance assumes full-year organic sales growth of approximately 4.5%, operating EBITDA growth of 8% and an 80-basis-point margin increase from 2025 pro forma results. Adjusted EPS is expected to rise 21% to 22% on the same basis.

For the fourth quarter, DuPont expects net sales of about $1.825 billion, operating EBITDA of approximately $455 million and adjusted EPS of $1.90 to $1.95. The sales outlook assumes roughly 8% organic growth, or about 6% excluding the effect of a $30 million order-timing headwind in the fourth quarter of 2025.

Both operating segments are expected to deliver high-single-digit organic sales growth in the fourth quarter. Healthcare & Water Technologies is expected to benefit from personal protection, medical devices and industrial water, while Diversified Industrials is expected to see growth in aerospace, industrial and construction end markets.

DuPont completed a $250 million accelerated share repurchase and had substantially completed another $100 million of open-market repurchases. The company also announced plans to repurchase $250 million of shares in the fourth quarter. All share and per-share figures reflect the company’s one-for-three reverse stock split, effective June 24, 2026.

The results reflect DuPont’s reshaped portfolio. The semiconductor and interconnect businesses separated as Qnity Electronics in November 2025, while DuPont completed the sale of its Aramids business in April 2026. Both businesses are classified as discontinued operations in the periods presented.

DuPont identified several uncertainties that could affect its outlook, including costs and liabilities connected with the Qnity separation and Aramids divestiture, PFAS litigation and remediation obligations, geopolitical and trade restrictions, changes in industrial demand, foreign exchange movements, raw-material and logistics costs, and cybersecurity or operational disruptions. The company also noted that forward-looking non-GAAP guidance is not reconciled to GAAP because certain portfolio, litigation, environmental, impairment and tax effects cannot be predicted with reasonable certainty.