Dupont Q3 Report 2023

Third Quarter 2023 Highlights

• Net Sales of $3.1 billion decreased 8%; organic sales decreased 10% versus year-ago period
• GAAP Income from continuing operations of $291 million; operating EBITDA of $775 million
• GAAP EPS from continuing operations of $0.62; adjusted EPS of $0.92
• Cash provided by operating activities from continuing operations of $740 million; adjusted free cash flow of $621 million

Net sales

• Net sales decreased 8% as organic sales decline of 10% was slightly offset by favorable portfolio impact of 2%, primarily reflecting the August 1st acquisition of Spectrum.
• Organic sales decline of 10% reflects lower volume primarily from semiconductor and construction end-markets, as well as the impact of channel inventory destocking.
• 13% organic sales decline in Electronics & Industrial; 8% organic sales decline in Water & Protection; 1% organic sales growth in the retained businesses reported in Corporate, which includes mid-single digit growth in the adhesives business.