DuPont preannounced disappointing earnings results before the opening bell Wednesday, sending the stock down roughly 13%.
Operating fourth-quarter EBITDA (earnings before interest, taxes, depreciation, and amortization) is expected to be about $715 million, operating cash flow about $640 million, and adjusted free cash flow is expected to be about $500 million.
That compares to estimates, according to FactSet, of $746 million, $573 million and $447 million, respectively.
These forecasts represent across-the-board misses versus Street expectations for sales of $3.04 billion, operating EBITDA of $751 million, and earnings of 88 cents per share.
Given the slower recovery and impact on 2024 earnings, we are reducing our DuPont price target to $78 per share from $85.
Persons:
We're, That's, destocking, it's, Dupont, Patience, Danaher, Jim Cramer's, Jim Cramer, Jim, Jeff Fusco
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Wilmington , Delaware