dupont q1 2020

“DuPont has weathered many challenges and crises over its two centuries and our team is navigating this period with the benefit of our cumulative expertise,” Breen said. Share . The absence of prior year licensing income of $26 million and lower volumes more than offset improved product mix and productivity actions. Operating EBITDA for the segment was $308 million, a decrease of 17 percent from pro forma operating EBITDA of $373 million in the year-ago period, driven primarily by the impact of the volume and price declines within Mobility Solutions partially offset by raw material tailwinds and favorable product mix. Operating EBITDA(2) was $1.3 billion, down 8 percent versus pro forma operating EBITDA(2) in the prior year. Within Image Solutions, volume gains in flexographic plates, mainly into consumer packaged goods, were mostly offset by weakness in inks and OLEDs. They are under-performing the … Filings & Reports; Events & Presentations; Stock & Dividend Information; Corporate Governance. 2020/03/11. (2)   Adjusted EPS, pro forma adjusted EPS, operating EBITDA and pro forma operating EBITDA are non-GAAP measures. Steady demand across Pharma Solutions contributed to the gains in the quarter. Safety & Construction reported net sales of $1.3 billion, down 1 percent from the year-ago period. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The September 2019 divestiture of the DuPont Sustainable Solutions business reduced sales by 9 percent. Organic sales were up 8 percent driven by a 9 percent volume gain offset by a 1 percent decline in price. McMahon Services is an industry-leading, privately-owned industrial, construction and environmental services provider with a family business heritage. 10-Q Filing. DuPont 1Q 2020 Earnings Conference Call May 5, 2020. “The combination of our Nutrition & Biosciences business with IFF remains on track for a 1Q 2021 closing(1), and we plan to file the initial registration statement with the SEC in the coming days. Learn more about Unique Cars and Parts... Common Questions How Does It Work? Industrial materials maker DuPont on Tuesday doubled its annual cost-savings target and slashed its capital expenditure by about $500 million, as it looks to weather the global trade uncertainties brought on by the coronavirus outbreak. IFF Announces Long-Term Outlook, Including Currency Neutral Organic Sales Growth Of 4%-5% Annually. “While it is still impossible to predict timing, our markets will eventually stabilize and return to growth. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. DuPont (DD) earnings Q1 2020. In the interim we are prioritizing the safety and health of our employees, safely maintaining our operations, strengthening our balance sheet, and partnering with other industry leaders to combat this pandemic. Recent acquisitions in the Water Solutions business increased reported sales by 2 percent. Pricing gains across the segment and a favorable product mix led by the strength in Health & Biosciences provided a 210 basis point improvement in segment operating EBITDA margins. Over the longer term, our resilient people and our operational discipline will help assure that we weather this period, deliver for our stakeholders, and emerge strong when recovery eventually begins,” Breen said. Non-Core reported net sales of $366 million, down 19 percent from the year-ago period. This provides us the flexibility needed to navigate these uncertain times.”, (1)    Closing of transaction with IFF is subject to IFF shareholder approval, regulatory approval and customary closing conditions. WILMINGTON, Del., May 5, 2020 - DuPont (NYSE: DD) today announced financial results for the first quarter 2020. The company expects adjusted earnings per share of 82-84 cents for first-quarter 2020. Organic sales were down 12 percent with volume down 8 percent and price lower by 4 percent. DuPont de Nemours, Inc.(DD Quick QuoteDD- Free Report) recorded a loss (on a reported basis) of 83 cents per share for first-quarter 2020 against earnings of 69 cents per share in … The company expects adjusted earnings per share of 82-84 cents for first-quarter 2020. Part of the alerts were also sent to Local Gaming Authorities and law enforcement authorities. Management reaffirmed 2020 guidance that reaffirmed Adjusted EPS of at least $3.70. Electronics & Imaging reported net sales of $884 million, up 7 percent from the year-ago period. Volume declined 8 percent due to lower auto builds, as global automotive production was down nearly 25 percent versus the year-ago period. The vast majority of the alerts concerned football (20 alerts). As spread of the coronavirus across some of the biggest economies upended global trade, companies are increasingly axing costs and delaying non-essential expenses. Nutrition & Biosciences reported net sales of $1.5 billion, up 1 percent from the year-ago period. Data is a real-time snapshot *Data is delayed at least 15 minutes. GAAP Income (loss) from continuing operations totaled $(610) million, versus pro forma GAAP Income from continuing operations of $18 million in the year-ago period. This represents another important milestone towards creating tremendous opportunity for our employees and customers, as well as significant value for our shareholders.”. DuPont Stock versus S&P 500 Over 2020 Coronavirus/Oil Price War Crisis. The company expects adjusted earnings per share of 82-84 cents for first-quarter 2020. HOUSTON (ICIS)--DuPont first-quarter sales and earnings fell year on year amid nylon pricing pressures and volume declines across the Transportation & Industrial and non-core segments. First Quarter 2020 Results Net sales totaled $5.2 billion, down 4 percent versus the year-ago period. The industrial giant now expects to save $180 million this year from incremental actions it had announced earlier. This includes optimizing working capital, deferring certain capital expenditures, improving our cost structure, and strengthening our liquidity,” said Lori Koch, DuPont Chief Financial Officer. US DuPont lowers Q1 sales guidance on coronavirus. Currency was a 1 percent headwind. As an essential provider of personal protective equipment and important materials in other companies’ supply chains, DuPont employees across the globe are committed to help combat the COVID-19 pandemic. DuPont shares are down 30% from the beginning of the year , still down 41.94% from its 52 week high of $77.03 set on July 1, 2019. Got a confidential news tip? Investors can access information included on the Investor Relations section of the website at www.investors.dupont.com. For Sale:: Exotic Cars - Sports Cars - Luxury Cars. Adjusted EPS(2) decreased 9 percent to $0.84, compared with pro forma adjusted EPS(2) in the year-ago period of $0.92 primarily driven by the absence of prior year gains of $0.08, nylon headwinds, and a higher tax rate partially offset by a lower share count, lower depreciation and amortization, and lower foreign exchange losses. Operating EBITDA for the segment was $253 million, a decrease of 12 percent from pro forma operating EBITDA of $288 million in the year-ago period, driven primarily by the absence of a $50 million gain associated with an asset sale recognized in the prior year. The company's adjusted earnings, in line with preliminary results released earlier, came in at 84 cents per share for the first quarter, beating analysts' estimates of 75 cents, according to Refinitiv IBES. All Rights Reserved. ET. Priorities in Current Environment 2 › Restricting site access to manufacturing personnel only › Enhanced cleaning protocols for work areas › Medical personnel aggressively contact tracing all suspected cases and quarantining where required › Majority of office employees, including senior leadership team, working from … PDF . Volume growth within Interconnect Solutions was also strong, driven by higher material content in premium, next-generation smartphones. It also anticipates net sales of roughly $5.2 billion for the first quarter. Sales for the first quarter should be $5.0bn-5.1bn, compared with its prior guidance of $5.1bn-5.2bn, the company said at the … 21 April 2020. HOUSTON (ICIS)--DuPont lowered on Wednesday its sales guidance for the first quarter and the full year because of the coronavirus (Covid-19). Quarter ended March 31, 2020. In Healthcare and Specialty, Kalrez® revenues increased mid-teens percent as strong demand for differentiated, high performance seals in semiconductor manufacturing more than offset weaker demand within oil and gas. The slide presentation that accompanies the conference call will be posted on the DuPont’s Investor Relations Events and Presentations page. Currency was a 2 percent headwind. GAAP EPS from continuing operations totaled $(0.83) versus pro forma GAAP EPS from continuing operations in the year-ago period of $0.02; the decline is mostly attributable to higher significant items, incremental merger-related amortization expense, a higher tax rate and lower segment results, partially offset by the absence of costs historically allocated to Dow and Corteva. A replay of the webcast also will be available on the DuPont’s Investor Relations Events and Presentations page following the live event. DuPont de Nemours, Inc. DD has issued preliminary results for first-quarter 2020. During the quarter the Company announced a number of initiatives in support of this mission, including: Due to the uncertainties presented by COVID-19, DuPont has also implemented a number of proactive measures to enhance its already strong liquidity position and improve working capital. Since 1990, our team has delivered some of Australia’s most difficult and significant construction services projects. Latest Developments More . DuPont Investors - Starting June 1, 2019. Selling Your Car or Parts Place Your Classified Now Buy and Sell: Demand continued to be strong in Water Solutions which drove mid-single digit organic growth in the quarter despite temporary softness in the China market at the height of the COVID-19 pandemic. Tweet. “In the face of an unprecedented health, financial, and humanitarian crisis, we are prioritizing the safety and well-being of our employees, customers, suppliers, and other stakeholders,” said Ed Breen, DuPont Executive Chairman and Chief Executive Officer. DuPont slashed its capital expenditure by about $500 million and raised its annual cost-savings target to counter global trade uncertainties brought on by the coronavirus outbreak. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, health and wellness, food and worker safety. Our Q1 2020 analysis shows that we are above 90% for traceability to mill.” This represents ‘significant progress’ in developing transparent supply chains – and DuPont N&B is striving for 100% traceability to the mill within the next five years. Q4 2020 Dupont De Nemours Inc Earnings Release. Share. Deal set to close in Q1 2021. Sales gains were led by Health & Biosciences with high-single digit growth versus the same period last year. Zacks. Through April, we continue to see strength in personal protection, water filtration, food and beverage, electronics and probiotics. We are monitoring developments across our geographies and operations on a daily basis and we will continue to adapt to the changing environment. It received a favorable judgment in the Chemours lawsuit. May 5, 2020 admin Earnings 0. DuPont Leadership; DuPont Board; Contact the Board of Directors; Contact Investor Relations; Email Alerts; FAQ; DowDuPont Investors - Prior to June 1, 2019. Sign up for free newsletters and get more CNBC delivered to your inbox. DuPont™, the DuPont Oval Logo, and all trademarks and service marks denoted with ™, ℠ or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted. US DuPont idles some plants as Q1 sales, earnings fall. We want to hear from you. DuPont Q3 2020 Earnings Call Oct 29, 2020, 8:00 a.m. Net sales totaled $5.2 billion, down 4 percent versus the year-ago period. On an organic basis, net sales were down 2 percent as 8 percent organic growth in Electronics & Imaging and 3 percent organic growth in Nutrition & Biosciences was more than offset by organic sales declines in the other segments. Barring one-time items, earnings came in at 84 cents per share … Zacks Equity Research. Organic sales were down 2 percent with a 2 percent price improvement offset by a 4 percent decline in volume. DuPont Reports First Quarter 2020 Results, Our Commitment to Racial Equity and Equality, Our Commitment to Advancing Racial Equity and Equality, Military, Law Enforcement & Emergency Response, 1Q20 GAAP EPS from continuing operations of $(0.83); adjusted EPS of $0.84, 1Q20 GAAP Income (Loss) from continuing operations of $(610) million and Operating EBITDA of $1.3 billion, 1Q20 Net Sales of $5.2 billion, down 4 percent; organic sales down 2 percent, Further strengthened liquidity with $1.0 billion revolving credit facility, Issued $2.0 billion bond to refinance debt maturities due in November 2020; replaces the $2.0 billion 364-day delayed-draw facility, Continues to advance separation of Nutrition & Biosciences business in preparation for merger with IFF in 1Q 2021, Implemented initiatives to mitigate the impact of COVID-19 including actions to deliver more than, $500 million of working capital improvement and reducing capital expenditures by ~$500 million versus the prior year, Increased production of Tyvek® garments by more than nine million per month, which is more than double the amount produced for any prior crisis, Launched #TyvekTogether campaign, an initiative to deliver an additional five to six million garments per month through the rapid development of a safe, easier-to-use version of Tyvek® and by enabling others to join DuPont in protecting frontline responders, with free access to our designs and usage instructions, Partnered with Cummins, Inc. to use DuPont filtration technology to help strengthen the supply of N95 respirator masks, Entered into a 364-day $1.0 billion revolving credit facility, replacing the $750 million revolving credit facility that was set to expire in June 2020, Issued $2.0 billion bond offering; the proceeds of which will be used to satisfy debt maturities due in November 2020. Operating EBITDA for the segment was $385 million, an increase of 10 percent from pro forma operating EBITDA of $349 million in the year-ago period. PDF HTML. DuPontTM and all products, unless otherwise noted, denoted with TM, SM or ® are trademarks, service marks or registered trademarks of affiliates of DuPont de Nemours, Inc. © 2020 DuPont. DuPont de Nemours, Inc. DD has issued preliminary results for first-quarter 2020. Cority and Verisk 3E Streamline Access to Chemical Safety Data to Increase Efficiency and Improve Workplace Safety Seamless integration of Verisk 3E’s chemical and regulatory content and Cority’s EHSQ platform serves to strengthen compliance management and instant decision-making support TORONTO and CARLSBAD, Calif. – December 10, 2020 … With the addition of these, and the special cash payment associated with the closing of the N&B and IFF transaction, we have a solid plan in place to satisfy our debt maturities. In the course of Q1 of 2020 (January - March 2020), GLMS sent out alerts on 24 matches* to its partners. New to Unique? Transportation & Industrial reported net sales of $1.1 billion, down 13 percent from the year-ago period. DuPont trades for about 17 times estimated 2020 earnings, in line with other chemical companies in the S&P. The industrial giant had earlier suspended its full-year forecast, citing the pandemic. 2019. “We took quick, decisive action to manage our working capital and to better align our production volumes with the demand we expect in the near term,” Breen continued. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Reconciliation to the most directly comparable GAAP measure, including details of significant items begins on page 14 of this communication. 3 min read. Despite the strength in protective garments, sales in the Safety Solutions business declined mid-single digits as demand weakened across industrial, aerospace, and defense markets as a result of the COVID-19 pandemic and challenges in the oil and gas industry. Operating EBITDA for the segment was $42 million, a decrease of 57 percent from pro forma operating EBITDA of $98 million in the year-ago period with the benefits from price more than offset by significantly lower volumes of TCS and Sorona® fiber and lower Hemlock Semiconductor equity earnings. ET. Currency was a 1 percent headwind. The impact of the COVID-19 pandemic on other key industrial markets in addition to automotive contributed to the double-digit volume declines within both Mobility Solutions and Industrial & Consumer. The company is also establishing score cards for its suppliers to support best practice. Author: Al Greenwood. “These actions will ensure our balance sheet remains strong and all of our businesses are positioned for growth when market demand returns.”. DuPont products are shown for sale in a hardware store in National City, California, December 9, 2015. Significant volume declines due to weak demand for trichlorosilane (TCS) and for Sorona® fiber in carpet and apparel applications was partially offset by volume gains in pastes. The deal will see the companies combine, with existing DuPont shareholders gaining a 55.4% stake of the new company and existing IFF shareholders gaining a 44.6% stake, according to a statement by IFF. Automotive, oil and gas, and select industrial end markets continue to suffer. 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