DuPont is ripping higher after an impressive beat and raise — here's our next move

CNBC Top News ·

DuPont is ripping higher after an impressive beat and raise — here's our next move

DuPont delivered an impressive earnings beat on Tuesday by navigating disruptions from the war in Iran, sending shares of the maker of medical packaging, clean-water technology, and industrial …

DuPont delivered an impressive earnings beat on Tuesday by navigating disruptions from the war in Iran, sending shares of the maker of medical packaging, clean-water technology, and industrial products soaring. Challenges remain, but we're not selling into strength. Revenue in the three months ended in March rose 4% to $1.68 billion, topping the LSEG consensus of $1.67 billion. On an organic basis, sales grew 2% from the year-ago period. Adjusted earnings per share (EPS) totaled 55 cents, ahead of the 48-cent consensus, LSEG data showed. Adjusted EPS jumped 53% from a year ago. Shares of DuPont soared 9% on Tuesday to over $49 apiece. The stock closed above $51 a share on a couple of occasions in February following its strong fourth-quarter results . But not long after, the Iran war broke out, pressuring the stock ever since as investors feared a hit to DuPont's business. Shares entered Tuesday's session down almost 10% from their prewar levels. It is a "great time to not sell your DuPont," Jim Cramer said on Tuesday's Morning Meeting. DD YTD mountain DuPont's year-to-date stock performance. Bottom line DuPont is doing a commendable job of navigating the fallout from the war in Iran, and the market is clearly recognizing this in its stock reaction. The conflict is impacting the company in two primary ways. …

Original source: CNBC Top News

Mentioned

Morning Meeting · Middle East · Iran war · Jim Cramer