On the back of a beat-and-raise second quarter, storied chemical company DuPont (DD 0.49%) saw a satisfying share price rise on Tuesday. The company's stock became more than 2% more valuable that trading session as the market digested its results. That increase was particularly impressive when matched against the S&P 500 index's 0.5% slide on the day.
Two beats in quarter two
DuPont's earnings release, published before market open, revealed that the company's revenue for the period was $3.26 billion. That was 3% higher than that of the same quarter last year. It was also high enough -- albeit barely -- to edge past the consensus $3.24 billion analyst estimate.
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Within its sprawling product assortment, DuPont saw particularly robust growth in its electronics segment, which saw a 6% rise in sales. As for regional performance, the Asia Pacific region led with a 4% increase, followed by 2% in Europe, the Middle East and Africa, and 1% in North America.
On the bottom line, non-GAAP (adjusted) net income cranked quite a bit higher. It came in at $468 million, or $1.12 per share; this was nearly 15% above the year-ago profit. It also represented a more convincing beat for DuPont, as the collective pundit forecast was $1.06 per share.
In the earnings release, DuPont quoted CEO Lori Koch as saying that "Ongoing strength in electronics, healthcare and water end-markets, along with our team's focus on operational execution continued to drive strong earnings growth and cash conversion."
Annual bottom-line boost
With those tailwinds, DuPont is clearly feeling bullish about the future. It raised its full-year guidance for adjusted net income, which is now anticipated to ring in at around $4.40 per share. That should derive from roughly $12.85 billion in net sales.
