DuPont's Preliminary Quarterly Results Disappoint, Stock Tumbles

DuPont De Nemours expects to report a fourth-quarter loss due to destocking and weaknesses in key markets, with a non-cash goodwill impairment charge at a unit of its water and protection segment. The company anticipates destocking to continue impacting sales into the first quarter of 2024 and projects first-quarter sales to be lower than analysts' estimates. CEO Ed Breen cited additional channel inventory destocking and weak demand in China as contributing factors, while rival Dow's shares also fell in premarket trade.