DuPont de Nemours, Inc. (DD): Results of Operations and Financial Condition
DuPont de Nemours, Inc. (DD) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 DuPont Reports Second Quarter 2026 Results Exceeds Second Quarter 2026 Guidance Raises Full Year 2026 Guidance Second Quarter 2026 Highlights • Net Sales of $1.8 billion increased 4%; organic sales increased 4% versus year-ago period • GAAP Income from continuing ope
How this was made
The 30-second read
Why it matters
The company reported 2Q26 net sales of $1.819B (+4% YoY), transaction-adjusted free cash flow of $326M (127% conversion), and raised full-year 2026 guidance for operating EBITDA and adjusted EPS, while also announcing intent to repurchase $250M of shares in Q3.
Market read
This is a primary earnings-and-guidance update with explicit full-year ranges and a buyback intent, which can drive estimate revisions and near-term positioning.
What to watch
The filing highlights margin pressure drivers (mix and growth investments) and a large GAAP swing from prior-year items, so traders should watch for whether adjusted metrics are sustained rather than one-off improvements.
DuPont Reports Second Quarter 2026 Results Exceeds Second Quarter 2026 Guidance Raises Full Year 2026 Guidance
Net sales and organic sales each increased 4%, operating EBITDA increased 6%, adjusted EPS increased 48%, and transaction-adjusted free cash flow increased 205%. The company also raised full-year 2026 guidance.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net salesGAAP | $1,819 million | – | 4% |
| Organic salesnon-GAAP | 4% | – | 4% |
| GAAP Income from continuing operationsGAAP | $191 million | – | n.m. |
| Operating EBITDAnon-GAAP | $448 million | – | 6% |
| Operating EBITDA marginnon-GAAP | 24.6% | – | 40 bps |
| GAAP EPS from continuing operationsGAAP | $1.37 | – | n.m. |
| Adjusted EPSnon-GAAP | $1.88 | – | 48% |
| Cash provided by operating activities from continuing operationsGAAP | $400 million | – | n.m. |
| Capital expendituresother | $76 million | – | – |
| Separation-related transaction costs and other paymentsother | $2 million | – | – |
| Transaction-adjusted free cash flownon-GAAP | $326 million | – | 205% |
| Transaction-adjusted free cash flow conversionnon-GAAP | 127% | – | – |
| Healthcare & Water Technologies Operating EBITDAnon-GAAP | $258 million | – | 4% |
| Healthcare & Water Technologies Operating EBITDA marginnon-GAAP | 30.1% | – | (30) bps |
| Diversified Industrials Operating EBITDAnon-GAAP | $213 million | – | 7% |
| Diversified Industrials Operating EBITDA marginnon-GAAP | 22.1% | – | 70 bps |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Healthcare & Water TechnologiesNet sales increased on organic sales growth of 4% and a currency benefit of 1%. Healthcare Technologies sales were up mid-single digits on an organic basis on broad-based growth led by personal protection and biopharma. Water Technologies sales were up low-single digits on an organic basis on continued strength in industrial water and semiconductor markets, partially offset by weakness in the Middle East. | $856 million | – | 5% |
| Diversified IndustrialsNet sales increased on organic sales growth in the quarter. Building Technologies sales were up low-single digits on an organic basis due to growth in residential and non-residential construction markets. Industrial Technologies sales were up mid-single digits on an organic basis on continued strength in aerospace coupled with growth in electric vehicle applications. | $963 million | – | 3% |
2H'26E and Full Year 2026E outlook
- Revenue2H'26E: $3,660 - $3,690; Full Year 2026E: $7,160 - $7,190
- NoteOperating EBITDA: 2H'26E: $890 - $910; Full Year 2026E: $1,750 - $1,770
- NoteAdjusted EPS: 2H'26E: $3.65 - $3.80; Full Year 2026E: $7.17 - $7.32
- NoteFull-year 2026 operating EBITDA guidance midpoint: approximately $1.76 billion
- NoteAdjusted EPS guidance midpoint: $7.24 per share
- NoteExpectation for organic sales growth: slightly above 4%
- NoteSecond-half organic sales growth expectation: mid-single digit organic sales growth
Capital returns
- Announces intent to repurchase $250 million of shares in the third quarter.
What drove it
- Consolidated operating EBITDA increased on organic growth and productivity.
- GAAP Income and GAAP EPS from continuing operations improved on higher segment earnings and lower interest expense and transaction costs.
- Adjusted EPS increased on higher segment earnings, lower net interest expense and a lower tax rate.
- Healthcare & Water Technologies operating EBITDA increased on organic growth and productivity, partially offset by growth investments.
- Diversified Industrials operating EBITDA and margin increased on organic growth, favorable mix and productivity.
- The company cited continued strength across healthcare, industrial water, and aerospace end-markets.
Concerns
- Healthcare & Water Technologies operating EBITDA margin decreased 30 basis points as organic growth and productivity were more than offset by less favorable mix and growth investments.
- Water Technologies strength in industrial water and semiconductor markets was partially offset by weakness in the Middle East.
- The filing identifies risks and costs related to the arrangement to share future eligible PFAS costs among DuPont, Corteva, Inc. and The Chemours Company.
- The financial results of the divested Aramids Business and the Electronics Business are reflected as discontinued operations.
What to watch
- Delivery of 2H'26E net sales of $3,660 - $3,690, operating EBITDA of $890 - $910 and adjusted EPS of $3.65 - $3.80.
- Whether organic sales growth reaches the expectation of slightly above 4% for full-year 2026 and mid-single digit growth in the second half.
- Margin progression in Healthcare & Water Technologies following the 30 basis point decline.
- Continued strength in healthcare, industrial water, aerospace, construction and electric vehicle applications.
- Execution of the intent to repurchase $250 million of shares in the third quarter.
Balance sheet and cash flow
- Cash provided by operating activities from continuing operations was $400 million.
- Capital expenditures were $76 million.
- Separation-related transaction costs and other payments were $2 million.
- Transaction-adjusted free cash flow was $326 million, representing 127% conversion.
- The Aramids Divestiture was completed on April 1, 2026 for pre-tax cash proceeds of approximately $1.2 billion, subject to customary transaction adjustments, a note receivable in the principal amount of $300 million and a non-controlling common equity interest valued at $325 million.
Analysis
DuPont reported a strong second quarter ended June 30, 2026. Net sales were $1,819 million, up 4%, with organic sales also up 4%. Operating EBITDA increased 6% to $448 million and operating EBITDA margin increased 40 bps to 24.6%. GAAP Income from continuing operations was $191 million, compared with $24 million, while GAAP EPS from continuing operations was $1.37, compared with $0.17.
Growth was present in both reporting segments. Healthcare & Water Technologies generated net sales of $856 million, up 5%, including 4% organic growth and a 1% currency benefit. Healthcare Technologies benefited from personal protection and biopharma, while Water Technologies saw continued strength in industrial water and semiconductor markets. Diversified Industrials generated net sales of $963 million, up 3%, supported by construction-market growth, continued aerospace strength and growth in electric vehicle applications.
Profitability was led by productivity and mix in Diversified Industrials, where operating EBITDA increased 7% to $213 million and margin increased 70 bps to 22.1%. Healthcare & Water Technologies operating EBITDA increased 4% to $258 million, but margin declined 30 basis points to 30.1% because less favorable mix and growth investments more than offset organic growth and productivity. At the consolidated level, adjusted EPS increased 48% to $1.88, with higher segment earnings, lower net interest expense and a lower tax rate cited as drivers.
Cash generation strengthened materially. Cash provided by operating activities from continuing operations was $400 million, capital expenditures were $76 million and separation-related transaction costs and other payments were $2 million. These items resulted in transaction-adjusted free cash flow of $326 million and 127% conversion. The company announced its intent to repurchase $250 million of shares in the third quarter.
Management raised full-year 2026 guidance to net sales of $7,160 - $7,190, operating EBITDA of $1,750 - $1,770 and adjusted EPS of $7.17 - $7.32. The stated full-year midpoint targets are approximately $1.76 billion of operating EBITDA and $7.24 per share of adjusted EPS, with organic sales growth expected to be slightly above 4%. The second-half outlook calls for net sales of $3,660 - $3,690, operating EBITDA of $890 - $910, adjusted EPS of $3.65 - $3.80 and mid-single digit organic sales growth.
Management, verbatim
We delivered another strong quarter, exceeding our financial guidance and demonstrating our focus on consistent execution
Lori Koch, DuPont Chief Executive Officer
Mid-single digit organic growth, strong margin expansion, coupled with robust adjusted EPS growth and free cash flow generation underscore the strength of our market-leading businesses and reflect disciplined execution of our strategic priorities, supported by our ongoing focus on excellence and productivity.
Lori Koch, DuPont Chief Executive Officer
Our strong execution and market-driven growth continue to translate into higher earnings and free cash flow generation. As a result of our second quarter outperformance, we are again raising the midpoint of our full-year 2026 operating EBITDA guidance to approximately $1.76 billion and adjusted EPS guidance to $7.24 per share, while increasing our expectation for organic sales growth to slightly above 4%.
Antonella Franzen, DuPont Chief Financial Officer
Not in the filing
stated, not guessed- Prior-quarter values and quarter-over-quarter comparisons for reported metrics.
- Gross profit and gross margin.
- GAAP operating income and GAAP operating margin.
- Total net income, net income attributable to common stockholders and diluted share count.
- Cash balance, debt balance and other period-end balance-sheet metrics.
- Dividend declaration or payment details.
- Completed share repurchases during the reported quarter.
- Full-year 2026 guidance for gross margin, operating expenses, tax rate, operating cash flow, free cash flow and capital expenditures.
- Prior outlook figures, which were not provided, for comparison with reported results.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
DuPont filed an SEC 8-K (Item 2.02) with its 2Q26 results and updated 2026 outlook.
Ticker impact
DuPont reported 2Q26 results and raised full-year 2026 guidance, including adjusted EPS to $7.24 midpoint and operating EBITDA to about $1.76B.
Likely upward bias for DD as traders reprice 2026 earnings and free-cash-flow expectations; follow-through depends on whether organic growth sustains in 2H.
The filing is a primary disclosure (8-K) with specific, updated full-year ranges and a concrete repurchase authorization, which typically drives immediate sentiment and estimate revisions.
Market effects
Supports the industrials/chemicals narrative that mid-single-digit organic growth and margin expansion are achievable, potentially improving sentiment for peers with similar end-market exposure.
Primarily US-listed large-cap industrials sentiment; limited direct regional spillover beyond US earnings/guidance tape.
Global end-market strength signals (healthcare, industrial water, aerospace) may modestly influence multinational industrials positioning.
Counterpoint
Guidance raises may already be partially anticipated; investors may focus on whether 2H organic growth can remain slightly above 4% amid mix and investment headwinds.
Key entities
- issuerDuPont de Nemours, Inc.
Reported 2Q26 results, raised full-year 2026 guidance, and announced $250M share repurchase intent.
- executiveLori Koch
CEO quoted on execution and guidance outperformance.
- executiveAntonella Franzen
CFO quoted on raising guidance and 2H growth expectations.
