Why DuPont Stock Fell 13.4% This Week
Shares of DuPont (NYSE: DD) are down 13% this week as of Thursday's close, according to data provided by S&P Global Market Intelligence, after the global chemical company announced mixed preliminary fourth-quarter results and disappointing forward guidance.
DuPont isn't officially slated to release Q4 and full-year 2023 results until Feb. 6, 2024. But in a press release Wednesday, the company told investors it expects Q4 revenue to arrive at roughly $2.9 billion, which should translate to adjusted (non-GAAP) earnings per share ranging from $0.85 to $0.87. Analysts, on average, were expecting earnings near the low end of that range but on higher revenue of $3 billion.
DuPont Executive Chairman and CEO Ed Breen noted the company continues to focus on generating strong cash flows as it navigates a "lower-volume environment."
Source Fool.com
