DowDuPont +4% after Q3 earnings beat, new $3B stock buyback

|About: DowDuPont Inc. (DWDP)|By:, SA News Editor

DowDuPont (NYSE:DWDP+4.3% pre-market after Q3 earnings beat expectations and saying it would buy back $3B in shares over the next five months.

Q3 revenues rose 31% Y/Y to $20.12B, a bit below expectations, with double-digit gains in all segments and increases in all regions; sales at the materials science business, DWDP's top revenue contributor, rose 13% to $12.4B.

Q3 volume grew 6%, with gains in most segments and all regions; operating EBITDA rose 8% to $2.5B.

Selling, general and administrative costs rose 49% in the quarter to $1.5B while integration and separation costs rose 88% to $666M.

DWDP says it is now aiming for $3.6B in cost synergies and $1.5B in Y/Y cost savings, after previously expecting cost synergies of $3.3B and cost savings of $1.4B.

DWDP reiterates its guidance for full-year adjusted earnings in 2018, expecting an increase in the low 20s as a percentage.

Separately, the company announced the board of directors for the future companies Dow, DuPont and Corteva Agrisciences.

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