DowDuPont Announces Third-Quarter 2018 Results

DowDuPont, a provider of innovative products, materials and services to the global market, released its third-quarter 2018 results. According to the announcement, GAAP net income from continuing operations reached USD 535 million, while operating EBITDA increased 19 percent to USD 3.8 billion. DowDuPont Chairman and Chief Executive Officer Ed Breen said in a statement on the matter, "Our teams continue to deliver on our strategic objectives by executing our growth strategy, capturing cost synergies and driving productivity improvements with strong gains in volume, cost and operating EBITDA. We have delivered on our cost synergy targets versus the prior period and are now raising our target to USD 3.6 billion. Each business segment is performing well, and we are on track to complete the separations, beginning with Materials Science on April 1 and continuing with Agriculture and Specialty Products on June 1." he said. DowDuPont according to the announcement made by the company, net sales increased 10 percent to USD 20.1 billion, with volume gains and local pricing gains across all business segments and in all regions. The company raised its cost synergy target to USD 3.6 billion, while expected savings versus the same period in the prior year increased to USD 1.5 billion.

GAAP net income from continuing operations reached USD 535 million, while operating EBITDA increased 19 percent to USD 3.8 billion. Net sales increased 10 percent to USD 20.1 billion.

DowDuPont Chairman and Chief Executive Officer Ed Breen said in a statement; "Our teams continue to deliver on our strategic objectives by executing our growth strategy, capturing cost synergies and driving productivity improvements with strong gains in volume, cost and operating EBITDA. Customer demand remains strong; organic sales increased 10 percent equally with volume and local pricing. We have delivered on our cost synergy targets versus the prior period and are now raising our target to USD 3.6 billion. We are reaffirming the 2018 full-year earnings per share guidance we provided in August with our second-quarter earnings announcements. Each business segment is performing well, and we are on track to complete the separations, beginning with Materials Science on April 1 and continuing with Agriculture and Specialty Products on June 1." he said. DowDuPont Chief Executive Officer Howard Ungerleider said in his statement, "Global demand for our products is strong, supported by solid fundamentals including business investment, manufacturing productivity, business growth and wage increases," and added: "Looking ahead, we are well positioned to deliver above-GDP growth in total revenue gains with our products and new product launches, while delivering on productivity and cost synergy savings."