DuPont appoints Kurt McMaken to Board, reports 15% revenue increase

By Bobby Samwell • Saturday, February 22 10:17 • Permanent Link

DuPont (NYSE: DD) has appointed Kurt McMaken to its Board of Directors, effective immediately. McMaken, who currently serves as the Chief Financial Officer of Brinks, will bring his extensive background in finance and strategic planning to the company, having previously held senior positions at Eaton Corporation plc and PricewaterhouseCoopers LLP.

In terms of financial metrics, DuPont reported a 15% increase in revenue for the fourth quarter of 2024, reaching $6.2 billion compared to $5.4 billion in the same period the previous year. Additionally, the company's operating income saw a significant rise of 25% to $1.1 billion, up from $880 million in the prior year's fourth quarter. This growth was driven by a combination of improved product pricing and continued cost discipline.

Furthermore, the company's net income attributable to DuPont rose to $710 million, a 20% increase from the previous year's fourth-quarter figure of $590 million. Diluted earnings per share (EPS) also experienced a notable uptick, reaching $0.85 compared to $0.70 in the fourth quarter of 2023, reflecting a 21% increase.

The company's strong performance is underscored by its operating cash flow, which stood at $1.3 billion for the fourth quarter of 2024, representing a 30% surge from the $1 billion generated in the same period of the previous year. This robust cash flow generation reflects DuPont's efficient operational management and ability to convert sales into cash.

Moreover, the company's return on invested capital (ROIC) improved to 12.5% in the fourth quarter of 2024, up from 10.8% in the corresponding period of 2023, signaling enhanced effectiveness in deploying capital to generate profits.

In light of these financial results, DuPont's Board of Directors has expressed optimism about the company's growth and value creation strategies, with McMaken's appointment seen as a move to further bolster the board's guidance in steering the company's future trajectory. As a result of these announcements, the company's shares have moved -1.4% on the market, and are now trading at a price of $81.65. Check out the company's full 8-K submission here.

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