DuPont Reports First Quarter 2025 Results

DuPont announced its financial results for the first quarter ended March 31, 2025.

“Our results reflect continued strong quarterly financial performance with year-over-year organic sales growth and margin expansion in both the ElectronicsCo and IndustrialsCo segments,” said Lori Koch, DuPont CEO. “We continue to benefit from ongoing strength in electronics markets as well as strong demand in healthcare and water end-markets. Through April, we continued to see strong order patterns consistent with our expectations.” “Our global manufacturing footprint and flexible supply chain network serves us well as we manage through the impact of tariffs,” Koch continued. “Our teams are actively engaged with customers and suppliers as we work to further mitigate the impact.”

“We remain on track for a November 1, 2025 spin-off of the Electronics business, which was announced this week as Qnity. We continue to achieve key milestones related to the separation, including executive leadership and Board appointments, as well as last week’s filing of the initial Form 10 registration statement with the SEC,” Koch concluded.

Net sales were $3,066 million, an increase of 5% on organic sales growth of 6%, partially offset by a currency headwind of 1%. Organic sales growth of 6% consisted of an 8% increase in volume partially offset by a 2% decrease in price. Higher volume was driven by double-digit gains in electronics, healthcare and water end markets.

The company saw 14% organic sales growth in ElectronicsCo, 2% organic sales growth in IndustrialsCo., 13% organic sales growth in Asia Pacific; and 4% organic sales growth in EMEA.

The GAAP loss/loss per share from continuing operations during the quarter was driven by a $768 million non-cash goodwill impairment charge related to the Aramids reporting unit. In connection with the 2025 segment realignment, DuPont was required to perform specific impairment analyses as a result of redefining certain reporting units along with the reallocation of goodwill.

As part of these steps, the Aramids business (Nomex and Kevlar) was identified as a new standalone reporting unit (Aramids was previously part of the Protection reporting unit, which consisted of the prior Safety Solutions and Shelter Solutions lines of business).

Operating EBITDA was $788 million, an increase of 16% as volume benefits and savings from restructuring actions were partially offset by growth investments. Cash provided by operating activities from continuing operations in the quarter of $382 million, with capital expenditures of $249 million and separation transaction cost payments of $79 million resulting in transaction-adjusted free cash flow and related conversion of $212 million and 49%, respectively.

“For the second quarter of 2025, we estimate net sales of about $3.2 billion, operating EBITDA of about $815 million and adjusted EPS of approximately $1.05 per share,” said Antonella Franzen, DuPont CFO. “Our second quarter guidance includes a seasonal sequential sales lift, although muted from prior expectations given timing shifts from the second quarter into the first quarter in Semiconductor Technologies.”