DuPont Announces $2 Billion Share Buyback: Why Did The Stock Tumble 7% Today?
Synopsis
The company has revised its full-year 2025 net sales forecast to nearly $6.84 billion, down from its prior estimate of approximately $6.87 billion.
DuPont (DD) on Thursday said that its board has approved a new share repurchase authorization of up to $2 billion of the company’s common stock.
"We also announced a $2 billion share repurchase authorization including an accelerated share repurchase of $500 million, and our initial dividend for new DuPont," CEO Lori Koch said.
The company’s third-quarter net sales rose 7% to $3.1 billion from last year, while organic sales increased 6% compared to a year ago. DuPont’s quarterly adjusted earnings per share of $1.09 were in line with a year ago.
However, the company stated that it now expects full-year 2025 net sales to be nearly $6.84 billion, compared to its prior forecast of approximately $6.87 billion.
Shares of the company fell nearly 9% in premarket trading on Thursday.
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