DuPont de Nemours, Inc. (DD) · Nov 3, 2026 · Earnings
Beat — Adjusted EPS $2.09 vs ~$1.87 consensus
DuPont earnings beat consensus on adjusted EPS and sales, while another 2026 guidance raise signals continued execution across its streamlined portfolio.
DuPont is operating as a streamlined two-segment company after the Qnity separation and Aramids divestiture, with the story now centered on healthcare, water, aerospace and industrial demand rather than portfolio reshuffling. Its prior quarter had already produced a guidance raise, so this filing is mainly a test of whether that improved operating trajectory is holding.
The quarter beat the market’s bar, not just the company’s own framing. Adjusted EPS of $2.09 was ahead of published expectations around $1.87, while sales of $1.868 billion were modestly above estimates near $1.84 billion. The beat was supported by 5% organic growth, 80 basis points of margin expansion and operating EBITDA of $469 million, rather than by a one-off accounting benefit. The filing says, “Net sales increased 4% on organic sales growth in the quarter.” 〔0〕
| 3Q’26 | 3Q’25 | Consensus / comparison | |
|---|---|---|---|
| Net sales (Financial Highlights) | $1,868M (+4%) | $1,795M | ~$1,840M |
| Adjusted EPS (Financial Highlights) | $2.09 (+62%) | $1.29 | ~$1.87 |
| Operating EBITDA (Financial Highlights) | $469M (+8%) | $436M | |
| Operating EBITDA margin (Financial Highlights) | 25.1% (+80 bps) | 24.3% | |
| Q4 adjusted EPS guide (Outlook) | $1.90–$1.95 | ~$1.88 | |
| FY2026 adjusted EPS guide (Outlook) | $7.47–$7.52 | ~$7.25 |
The more important change is the renewed outlook raise. Management now expects about $1.785 billion of 2026 operating EBITDA and $7.47–$7.52 of adjusted EPS, with organic growth around 4.5%; the midpoint is above the roughly $7.25 consensus. The filing explicitly says, “we are again raising our full-year financial outlook,” making this the second consecutive quarter in which execution has moved the forecast higher.
The quality of the operating result improved, although cash flow was not the incremental upside. Both segments grew organically—4% in Healthcare & Water Technologies and 5% in Diversified Industrials—while EBITDA margins expanded in each. Operating cash flow rose to $410 million, but transaction-adjusted free cash flow was $341 million, down slightly from $346 million a year earlier; that makes the earnings beat more credible, not a cash-flow acceleration story. The filing reports, “Cash provided by operating activities from continuing operations in the quarter of $410 million.”
Bottom line: DuPont is executing ahead of expectations in the businesses it kept, and another outlook raise confirms that the post-separation operating story is progressing. It matters because the upside is now showing up in both quarterly results and the forward forecast, though the direction was partly anticipated after the prior raise.
Q4 report, early February 2027
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