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(Sharecast News) - Shares in DuPont powered ahead on Tuesday, after the industrial materials specialist increased its full-year guidance following an above-forecast third quarter.
The US company saw net sales spark 4%, or 5% on an organic basis, in the three months to September end, to $1.9bn, while operating earnings before interest, tax, depreciation and amortisation jumped 8% at $469m. Adjusted earnings per share rocketed 62% to $2.09, beating estimates for $1.87 a share.
In healthcare and water technologies, revenues were 4% stronger, despite ongoing disruption in DuPont's Middle East markets. Net sales also rose 4% in its larger diversified industrials unit, driven by ongoing strength in aerospace and electric vehicle battery applications.
Lori Koch, chief executive, said: "We delivered another quarter of consistent, high-quality performance, once again exceeding our financial guidance.
"We are executing from a position of strength and remain focused on unlocking the full potential of our portfolio to delivery sustained, long-term value creation."
Looking to the full year, and DuPont now expects net sales to come in around $7.19bn, with organic growth of around 4.5%, and adjusted EPS between $7.47 and $7.52. All are at or above the top end of previous guidance.
Chief executive Antonella Franzen noted: "With continued strength across healthcare, aerospace and industrial water end markets, we remain well positioned to deliver attractive growth, strong cash generation and effective capital deployment."
As at 1600 GMT, the Wall Street-listed stock was trading up 7%.
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