DuPont 1Q21 has achieved net sales of $4 billion, up 8 percent whereas organic sales up 7 percent versus the year-ago period.

Sales were up on an as reported and organic basis in all three segments led by double-digit growth in Electronics & Industrial on continued strength in both semiconductors and smartphone technologies, high single-digit organic growth in Mobility & Materials on further recovery in automotive and industrial markets, and strong demand in Water & Protection for water filtration technologies.

On a regional basis, organic sales growth was led by Asia Pacific more than offsetting declines in US & Canada and EMEA.

“As we emerge from the COVID-19 pandemic, the leading positions we hold in semiconductor, smartphones, automotive, water filtration, and residential construction end-markets enabled us to deliver strong first quarter results ahead of expectations with organic sales growth in all three reporting segments,” said Ed Breen, Executive Chairman and Chief Executive Officer, DuPont.

“We delivered these results despite headwinds associated with escalating raw material and logistics costs and global supply constraints of key raw materials. Our teams have worked closely with our suppliers and customers to help mitigate the impact incurred as a result of these industry challenges,” added Breen.

Operating EBITDA was $1.05 billion, up 15 percent versus operating EBITDA in the prior year. Strong demand in Electronics & Industrial and Mobility & Materials as well as benefits from prior year cost initiatives contributed to 160 basis points of operating EBITDA margin expansion and 1.9 times operating EBITDA leverage.

Electronics & Industrial reported a record quarter with net sales of $1.3 billion, up 17 percent from the year-ago period. Organic sales were up 14 percent driven by a 15 percent volume gain offset by a 1 percent decline in price.

Water & Protection reported net sales of $1.3 billion, up 4 percent from the year-ago period. Organic sales were up 1 percent on a 1 percent increase in volume.

Mobility & Materials reported net sales of $1.2 billion, up 11 percent from the year-ago period. Organic sales were up 8 percent driven by a 7 percent volume gain and a 1 percent increase in price.

“With a strong start to the year, positive trends continuing in our key end-markets and confidence in our team’s ability to navigate through global supply constraints, we are raising our guidance for the year for net sales, operating EBITDA and adjusted EPS,” said Lori Koch, Chief Financial Officer, DuPont.

 “For full year 2021, we now estimate net sales to be between $15.7 billion and $15.9 billion and operating EBITDA between $3.98 billion and $4.08 billion. Our outlook for full year adjusted EPS is now in the range of $3.60 to $3.75 per share, an increase of $0.30 per share from our previous estimates,” added Koch.