Articles Tagged with ''quarterly reports''

Although sales are still down since the previous year, the good start into the year gives the company confidence that it can achieve its targets for the fiscal year.

The coatings manufacturer reported record earnings per diluted share, while organic sales declined versus the prior year. 

The company recorded third-quarter net sales that were up 0.4% from the prior year. The company expects the next quarter consolidated sales to be approximately flat compared to prior-year record results.

The results show a solid year, and Q4 confirms positive momentum in margin expansion and deleveraging efforts that are expected to continue in 2024. 

"We delivered significant year-over-year cash flow improvement in 2023, including a strong fourth quarter finish, which underscores our ongoing prioritization of working capital management," said Ed Breen, DuPont Executive Chairman and Chief Executive Officer. 

Highlights of the results include a net sales increase of 4.9% year-over-year to $1.3 billion, a net income increase of $30 million year-over-year to $74 million, and an adjusted EBITDA increase of $43 million year-over-year to $251 million.

Highlights of the report include a 12% volume growth and 5.5% value growth in the company's Decorative Business segment in addition to showing a consistent double-digit volume growth trend on a four-year CGR basis.

After record-high fourth quarter net sales, full-year highlights also include record sales of $18.2 billion; aided by 3% organic sales growth.

For the full year, sales grew to a record $23.05 billion with a consolidated net sales increase of 4.1%.

Fiscal 2024 sales were a second-quarter record and were in addition to strong growth in the prior-year period when sales increased 9.3%. Pricing was positive in all segments as they catch up with cost inflation.