DUPont raises full-year profit forecast as demand rises


Aug 3 - Industrial materials maker Dupont on Tuesday raised its full-year forecast for a second time and reported a rise in quarterly profit, as a jump in demand for its products offset higher raw material and logistics costs

Dupont has gained from rebound in demand from chipmakers and automakers after the pandemic-driven slump, but warned of more expensive raw materials in May by greater suppliers and producers.

For the full year, it said it expects net sales between $16.5 billion and $16.6 billion, compared with $15.7 billion to $15.9 billion previously.

It also reported adjusted earnings per share between $4.24 and $4.30, compared with its previous estimate of $3.60 to $3.75 per share

Adjusted net income rose to $563 million, or $1.06 per share, in the three months ended June 30, from $550 million, or 91 cents per share, in the first quarter.