DuPont de Nemours Inc
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$72.00 | Ctrjxp | Tymlqzxb |
DuPont Earnings: AI-Related Semiconductor Demand Drives DuPont Profit Recovery
DuPont reported solid second-quarter results as operating EBITDA was up 8% versus the prior-year quarter driven by a strong recovery in the electronics business. Following customer inventory destocking and a 20% segment EBITDA decline in 2023, we had expected the electronics and industrial segment to recover in 2024. However, the first-half results exceeded our expectation for the cadence of the year. Accordingly, we've increased our near-term outlook for the electronics business. Having updated our model to reflect these changes, we're raising our DuPont fair value estimate to $93 from $90. Our narrow moat rating is unchanged.