DuPont (DD) · Q3 2026 results and valuation

The projected cash flow doesn't cover the debt, so the price is far above the model's fair value.

1. Key theme

   Of its performance, DuPont is again raising its full year 2026 financial guidance for organic sales growth…

   Source quote

   “As a result of our performance, we are again raising our full year 2026 financial guidance for organic sales growth... ...growth combined with a continued focus on productivity enabled organic growth of 5%, 90 basis points of margin expansion, 31% adjusted EPS growth, and robust free cash flow conversion in the quarter. Antonella will provide further details shortly.”

2. Guidance

   DuPont now expects sales to be about 7.19 billion, an increase of 15 million from the midpoint of its prior guidance and at the top end of its prior guidance range.

3. Figure

   Net sales of $1.9 billion were up 4% versus the year-ago period on 5% organic sales growth, partially offset by a 1%...

Management sounded noticeably less positive answering analysts than in its prepared script — one of the biggest drops of any company call. Scripts are polished in advance; a drop under questioning often marks the topics analysts pressed on, so the answers deserve a closer read than the script.

Sentences that drove the tone

“In the past quarter, we substantially increased our front-end innovation pipeline and increased the grow versus renew ratio of our innovation portfolio by about 5%, ensuring that our vitality index...”

“In addition, we are strengthening the connection across innovation, marketing, and sales into a more systemic growth engine, enabling better win rates, faster activation of sales plays, stronger launch readiness,”

“We are enhancing the quality of our innovation portfolio through more rigorous portfolio management, stronger visibility to accretive growth opportunities, and differential resource allocation.”