DuPont announces Q4, 2021 fiscal results | News, Sports, Jobs

WILMINGTON, Del. — DuPont has announced financial results for the fourth quarter and full year 2021.

Fourth quarter 2021 net sales totaled $4.3 billion, up 14% versus the year-ago period and up 13% on an organic basis, including double-digit organic growth across all four regions and high single-digit to double-digit organic growth in all three reporting segments.

Full year net sales totaled $16.7 billion, up 16% versus prior year and up 14% on an organic basis, including double-digit organic growth across all four regions and in all three reporting segments. Organic sales growth for the year includes a 10% increase in volume and a 4% increase in price.

“Our fourth quarter financial results reflect a disciplined focus on pricing actions and operational excellence in a sustained environment of unprecedented global supply chain challenges and rising inflation,” said Ed Breen, DuPont executive chairman and Chief Executive Officer. “Sustained strong demand in key end-markets such as electronics and water, along with our continued ability to offset raw material inflation with price, were critical to our fourth quarter results. The leading market positions we hold globally, as well as our focus on execution, has led to sales and earnings growth throughout the year and will be key to our success in 2022.”

The company also advanced several strategic priorities in 2021, Breen said.

“With our acquisition of Laird Performance Materials, definitive agreement to acquire Rogers Corporation and intent to divest a substantial portion of the Mobility & Materials segment, we are advancing our position as a premier multi-industrial company and are focusing our portfolio around key growth pillars — electronics, water, protection, industrial technologies and next-generation automotive,” he said. “We expect these steps will provide high-growth, high-value opportunities in sectors with long-term secular trWends.”

DuPont returned more than $2.7 billion of capital to shareholders through share repurchases and dividends and produced a $5 billion reduction in long-term debt, Breen said.

“These actions, combined with our intent to complete the $375 million remaining under our current share buyback authorization and announcements today of a new $1.0 billion share buyback program and a 10% per share increase in our regular quarterly dividend, further illustrate our commitment to a balanced capital allocation approach and value creation for our shareholders,” Breen said.

The Board of Directors also has declared a first-quarter dividend of 33 cents per share on its outstanding common stock, representing a 10% increase to its regular quarterly dividend, payable March 15 to holders of record at the close of business on Feb. 28.

The board also authorized a $1 billion Share Buyback Program that expires March 31, 2023. The new authorization enables the company to repurchase shares following the company’s expected completion of the remaining $375 million in repurchases under its existing share buyback program in first quarter 2022 ahead of the program’s expiration on June 30, 2022.

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