Nov 1 - DuPont (DD.N) on Wednesday trimmed its full-year revenue forecast as the chemical and materials maker struggles with lower demand across its businesses and predicted "additional restructuring actions" in response.

Chemical makers had flagged a potential blow in the second half of the year from lower demand in key markets like China and Europe.

The company saw "ongoing volume headwinds from channel inventory destocking and continued softness in China" in the quarter, CEO Ed Breen said in a statement.

DuPont trimmed its full-year revenue forecast to $12.17 billion from its prior expectations of between $12.45 billion and $12.55 billion.

Sales in the company's electronics and industrial segment tumbled 13% in the third quarter while it declined 8% in its water and protection unit.

Revenue came in at $3.058 billion, falling short of the company's prior forecast of $3.15 billion and also missing estimates of $3.153 billion, as per LSEG data.

On an adjusted basis, DuPont earned 92 cents per share in the quarter ended Sept. 30, compared with estimates of 84 cents, according to LSEG data.

Chief Financial Officer Lori Koch highlighted underlying electronics demand in the final quarter of the year to be similar with the third quarter, expecting some higher sales in its semiconductor technologies.

The company's semiconductor business helps in the chip manufacturing processes, packaging and assembly, and device fabrication.

DuPont now expects annual earnings per share to be $3.45 per share, compared with prior expectations of between $3.40 and $3.50.

https://www.reuters.com/markets/commodities/dupont-beats-third-quarter-profit-estimates-cuts-revenue-forecast-2023-11-01/