DuPont announced its financial results for the fourth quarter and full year ended December 31, 2024 and initiated 2025 financial guidance.

Full year 2024 net sales were $12,386 milion, up 3%.  Operating EBITDA was $3,144 million, up 7%. Cash provided by operating activities from continuing operations for the year was $2.3 billion, with transaction-adjusted free cash flow and related conversion of $1.8 billion and 105%, respectively.

In the fourth quarter of 2024, net sales and organic sales were $3,092 million, an increase of 7% due to an 8% increase in volume, slightly offset by a 1% decrease in price. Higher volume was led by continued strong demand in electronics end markets, a return to year-over-year growth in medical packaging and biopharma within healthcare markets, and further acceleration in water markets.

Operating EBITDA was $807 million, increasing 13% as volume gains, the benefit of higher production rates and savings from restructuring actions were partially offset by higher variable compensation. Cash provided by operating activities from continuing operations in the quarter was $564 million, as capital expenditures of $161 million and separation transaction cost payments of $52 million resulted in transaction-adjusted free cash flow and related conversion of $455 million and 96%, respectively.

“DuPont closed out a year of strong financial performance with solid fourth quarter results as we saw continued strength in electronics end-markets and a return to year-over-year top-line growth in Water & Protection driven by further improvement in water and medical packaging end-markets,” said Lori Koch, DuPont CEO. “Our team’s ongoing focus on operational execution and cost discipline throughout 2024 delivered 100 basis points of margin expansion with 17% adjusted EPS growth for the full year, along with strong cash generation and related cash conversion of 105%.

“I am pleased with the progress we are making on the intended separation of our Electronics business targeted for Nov. 1, 2025,” Koch added. “We also remain excited for and confident in DuPont’s value creation opportunities following the Electronics separation, centered around the high growth businesses of Water and Healthcare, along with other market-leading industrial product lines.”

“I am pleased with our solid fourth quarter results, which capped off a strong year of financial performance and we look to carry this momentum into 2025,” said Antonella Franzen, CFO of DuPont. “We estimate first quarter 2025 net sales of about $3.025 billion, which assumes mid-single digit organic growth and a foreign currency headwind of approximately 1.5% on a year-over-year basis. Further, we estimate operating EBITDA of about $760 million and adjusted EPS of approximately $0.95 per share for the first quarter.

“For full year 2025, we estimate consolidated net sales of $12.8 to $12.9 billion, operating EBITDA of $3.325 to $3.375 billion, and adjusted EPS of $4.30 to $4.40 per share,” Franzen added. “Our full year net sales guidance assumes mid-single digit organic growth and a foreign currency headwind of about 1% versus last year.”