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(Sharecast News) - American chemicals giant DuPont has lowered its full-year sales target after streamlining its portfolio with last month's sale of its Kevlar and Nomex brands.
Kevlar and Nomex, which together formed part of DuPont's Aramids business, was sold to TJC affiliate Arclin in August for $1.8bn as part of a "continued optimisation of the new DuPont portfolio", the company said at the time.
The sale proceeds are said to be "re-deployed to further drive value creation", improving growth prospects and margins, DuPont said.
At the same time, DuPont's electronics business Qnity Electronics is intended to be spun off in early November.
As a result, the Delaware-based company - officially known as DuPont de Nemours - said it now expects net sales to come in at $6.87bn for 2025, well below earlier guidance of $12.85bn, with both Aramids and Qnity now classed as discontinued operations.
DuPont also unveiled medium-term financial targets for 2028, predicting 3-4% organic sales growth at a CAGR, 8-10% adjusted EPS growth CAGR and over 90% free cash flow conversion.
"DuPont is entering a new chapter as a more simplified, agile and high-performing multi-industrial company. As a leading advanced solutions provider with differentiated technologies, a strong innovation engine and deep customer relationships in attractive end-markets with strong secular trends, we are well positioned to drive profitable growth," said Lori Koch, DuPont's chief executive.
"We have a clear path to our 2028 financial targets which includes solid revenue and earnings growth along with robust cash generation."
DuPont futures were trading just 0.1% higher at $76.87 in pre-market trading on Thursday.
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