FILE PHOTO: A logo is pictured outside of Dupont offices in Geneva, Switzerland, April 15, 2021. REUTERS/Denis Balibouse/File Photo

(Reuters) -Industrial materials maker DuPont forecast current-quarter sales and adjusted profit below Wall Street estimates on Thursday to reflect the planned spinoff of its Qnity electronics unit and Aramids business divestiture.

Shares of the company swung sharply in volatile premarket trading, rising more than 2.5% before dipping as investors weighed the stronger quarterly results against a softer near-term outlook. They were last down 5.7%.

The third-quarter results highlighted DuPont's efforts to reassure investors with a large buyback and a full-year core profit raise as it aims to transition into a leaner, high-growth technology-focused materials company.

It is banking on strong demand in semiconductors, biopharma and water treatment to offset persistent weakness in the industrial and construction end-markets.

In August, DuPont said it would sell its Aramids unit that makes heat-resistant fibers under brands such as Kevlar to peer Arclin for $1.8 billion.

In October, its board approved the previously announced separation of Qnity Electronics, the segment housing its semiconductor and interconnect solutions businesses.

DuPont expects fourth-quarter adjusted profit of 43 cents per share, slightly below the expectation of 45 cents per share, according to data compiled by LSEG.

It forecast net sales of about $1.69 billion for the fourth quarter, also below analysts' average estimate of $1.72 billion.

Net sales in the industrials segment climbed 4.8% to $1.8 billion in the reported quarter, while the electronics segment saw an 11.2% increase to $1.28 billion, both compared to last year.

"Ongoing strength in (the) electronics, healthcare and water end-markets, along with our team's focus on operational execution, continued to drive strong top-line growth and cash conversion," CEO Lori Koch said.

The company expects to launch a $500 million accelerated share repurchase "imminently".

It now expects full-year operating core earnings of about $1.60 billion, compared with the prior forecast of $1.58 billion.

On an adjusted basis, DuPont reported profit of $1.09 per share for the three months ended September 30, compared with analysts' estimate of $1.06 apiece.

(Reporting by Pooja Menon in Bengaluru; Editing by Pooja Desai)