Business News: DowDuPont Reports Third Quarter 2018 Results

MIDLAND, MI & WILMINGTON, DEDowDuPont (NYSE: DWDP) release quarterly earnings stating:

  • GAAP EPS from Continuing Operations of $0.21; Adj. EPS Increases 35% to $0.74
  • GAAP Net Income from Continuing Operations of $535MM; Op. EBITDA Up 19% to $3.8B
  • Net Sales Up 10% to $20.1B; Volume and Local Price Gains in All Divisions and All Regions
  • Announces New $3B Stock Buyback Program, Expected to be Complete by First Spin
  • Increases Cost Synergy Target to $3.6B; Raises Expected YoY Savings to $1.5B
  • Reaffirms FY18 Adj. EPS Guidance: Up Low-20s Percent

CEO Quote

“Our teams generated strong gains in volume, price and operating EBITDA by continuing to execute our growth strategy, capture cost synergies and drive productivity improvements,” said Ed Breen, chief executive officer of DowDuPont. “ Organic sales rose 10 percent, equally driven by volume and local price as customer demand remained strong.  We delivered our year-over-year cost synergies and we are again raising our target, now to $3.6 billion.  We are also reaffirming our full year 2018 EPS guidance provided in August with our second quarter earnings announcement.  Each division is performing well, and we remain on track to complete the intended separations, beginning with Materials Science on April 1, followed by Agriculture and Specialty Products on June 1.”

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SOURCE: news provided by DOW-DUPONT.COM