DuPont de Nemours has recently released its 10-Q report, detailing its operations and financial performance. The company operates through three segments: Electronics & Industrial, Water & Protection, and Corporate & Other. The Electronics & Industrial segment supplies materials for semiconductor fabrication, while Water & Protection provides engineered products for various applications. The Corporate & Other segment includes auto adhesives and fluids, Multibase, and Tedlar products. The company announced a plan to separate into three independent, publicly traded companies through the separations of its Electronics and Water businesses.
In the 10-Q report, DuPont de Nemours reported net sales of $3.2 billion for the third quarter of 2024, up 4% from the same period in 2023. This increase was driven by a 5% rise in volume and a 2% increase related to portfolio actions, partially offset by a 2% decline in local price and product mix and a 1% unfavorable currency impact. For the nine months ended September 30, 2024, net sales were approximately $9.3 billion, up 1% from the same period in 2023.
The company's cost of sales remained relatively flat at $2.0 billion for the third quarter of 2024, primarily due to higher cost of sales from increased sales volume and the incremental impact of the Spectrum Acquisition, offset by decreases in cost of sales related to increased productivity and lower raw material costs. For the nine months ended September 30, 2024, cost of sales was $5.9 billion, slightly down from the same period in 2023, primarily due to increased productivity and lower raw material, logistics, and energy costs.
Research and development expenses totaled $134 million in the third quarter of 2024, up from $128 million in the third quarter of 2023. Selling, general and administrative expenses were $387 million in the third quarter of 2024, up from $360 million in the third quarter of 2023. Amortization of intangibles was $149 million in the third quarter of 2024, down from $155 million in the third quarter of 2023.
The company also reported acquisition, integration, and separation costs of $43 million for the third quarter of 2024, up from $9 million in the third quarter of 2023. Additionally, DuPont de Nemours declared a fourth quarter 2024 dividend of $0.38 per share, payable on December 16, 2024, to shareholders of record on November 29, 2024. Today the company's shares have moved 5.2% to a price of $86.08. If you want to know more, read the company's complete 10-Q report here.
