Earnings Release. “Additionally, our recent bond offering and our new $1 billion revolving credit facility further strengthen our balance sheet and improve our liquidity position. DuPont (DD) earnings Q1 2020. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. 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. DuPont recently replaced its CEO and CFO. The company expects adjusted earnings per share of 82-84 cents for first-quarter 2020. DuPont (DD) Issues Preliminary Q1 Results, Suspends 2020 View. 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. Through April, we continue to see strength in personal protection, water filtration, food and beverage, electronics and probiotics. 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. It also anticipates net sales of roughly $5.2 billion … Strong gross margin improvement was more than offset by the absence of prior year gains in our Electronics & Imaging and Safety & Construction segments, nylon pricing pressures, and volume declines across the Transportation & Industrial and Non- Core segments. International Flavors & Fragrances Inc. (IFF) has reported its financial results for Q1 2020, ending March 31, 2020. Filings & Reports; Events & Presentations; Stock & Dividend Information; Corporate Governance. The September 2019 divestiture of the DuPont Sustainable Solutions business reduced sales by 9 percent. Non-Core reported net sales of $366 million, down 19 percent from the year-ago period. May 5, 2020 admin Earnings 0. Q4 2020 Dupont De Nemours Inc Earnings Release. DuPont now expects to save $180 million this year, compared to $90 million from steps announced in January to take out stranded costs. Part of the alerts were also sent to Local Gaming Authorities and law enforcement authorities. Mike Blake | Reuters. 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. Share. This represents another important milestone towards creating tremendous opportunity for our employees and customers, as well as significant value for our shareholders.”. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. Volume growth within Interconnect Solutions was also strong, driven by higher material content in premium, next-generation smartphones. 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. 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. Investors can access information included on the Investor Relations section of the website at www.investors.dupont.com. See page 8 for further discussion. The vast majority of the alerts concerned football (20 alerts). Currency was a 1 percent headwind. 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. Management reaffirmed 2020 guidance that reaffirmed Adjusted EPS of at least $3.70. “Our colleagues are working tirelessly to support the massive effort to provide critical protection to healthcare and other front-line workers who bear the greatest burden in the fight against this pandemic. DuPont de Nemours, Inc. DD has issued preliminary results for first-quarter 2020. 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. The company expects adjusted earnings per share of 82-84 cents for first-quarter 2020. DuPont (DD) expects adjusted earnings per share of 82-84 cents and net sales of $5.2 billion for first-quarter 2020. 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. IFF Announces Long-Term Outlook, Including Currency Neutral Organic Sales Growth Of 4%-5% Annually. Organic sales were up 8 percent driven by a 9 percent volume gain offset by a 1 percent decline in price. “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. Currency was a 1 percent headwind. Safety & Construction reported net sales of $1.3 billion, down 1 percent from the year-ago period. 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. Transportation & Industrial reported net sales of $1.1 billion, down 13 percent from the year-ago period. Author: Al Greenwood. DuPont (NYSE: DD) is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. DuPont Q3 2020 Earnings Call Oct 29, 2020, 8:00 a.m. Automotive, oil and gas, and select industrial end markets continue to suffer. Nutrition & Biosciences reported net sales of $1.5 billion, up 1 percent from the year-ago period. Within Image Solutions, volume gains in flexographic plates, mainly into consumer packaged goods, were mostly offset by weakness in inks and OLEDs. Operating EBITDA for the segment totaled $368 million, a decrease of 2 percent from pro forma operating EBITDA of $374 million in the year-ago period. 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. All Rights Reserved. © 2021 CNBC LLC. 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. Got a confidential news tip? 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. PDF . The slide presentation that accompanies the conference call will be posted on the DuPont’s Investor Relations Events and Presentations page. PDF HTML. We want to hear from you. Latest Developments More . DuPont de Nemours, Inc. DD has issued preliminary results for first-quarter 2020. Share . 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 … Barring one-time items, earnings came in at 84 cents per share … DuPont trades for about 17 times estimated 2020 earnings, in line with other chemical companies in the S&P. 2020/05/05. 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 … The industrial giant now expects to save $180 million this year from incremental actions it had announced earlier. 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. “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. Organic sales were down 12 percent with volume down 8 percent and price lower by 4 percent. 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. In the course of Q1 of 2020 (January - March 2020), GLMS sent out alerts on 24 matches* to its partners. 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. It received a favorable judgment in the Chemours lawsuit. “These actions will ensure our balance sheet remains strong and all of our businesses are positioned for growth when market demand returns.”. Volume gains were led by Semiconductor Technologies where new technology ramps within logic and foundry, coupled with robust demand for memory in servers and data centers delivered double-digit growth versus the year-ago period. The bottom line was hurt by a higher tax rate, lower segment results and higher merger-related amortization expense. The company expects adjusted earnings per share of 82-84 cents for first-quarter 2020. 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. The chart shows the three components of the DuPont model for the CROBEX10 components with the addition of Arena Hospitality Group and Končar, based on Q1 2020 results trailing 12 months. They are under-performing the … 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. 2020/03/11. HOUSTON (ICIS)--DuPont lowered on Wednesday its sales guidance for the first quarter and the full year because of the coronavirus (Covid-19). A Division of NBCUniversal. Recent acquisitions in the Water Solutions business increased reported sales by 2 percent. “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 de Nemours, Inc. DD has issued preliminary results for first-quarter 2020. 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. 10-Q Filing. Of the observed companies, Optima Telekom recoded the highest ROE of 95.7%, which came on the back of the financial leverage (equity multiplier) which stood at 71.68, by far the highest of … The company’s reported net sales totaled $1.35 billion, up … A detailed discussion of some of the significant risks and uncertainties which may cause results … The year-over-year change in cash from working capital improved over $300 million in the quarter versus the same period last year. Tweet. The absence of prior year licensing income of $26 million and lower volumes more than offset improved product mix and productivity actions. DuPont de Nemours, Inc. DD 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 comparable quarter a year ago. 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. 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. “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. “We have intensified our focus on what we can control in this rapidly changing business environment by executing on a disciplined plan. ET. Reblog. Food & Beverage sales were up slightly on an organic basis with improvement in protein solutions driven by increased demand for packaged foods and on-going strength in the plant-based meat category, off-set by continued upstream challenges in the sweeteners supply chain. 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 … Earnings were down due to the absence of prior-year gains in the Electronics & … New to Unique? Similarly, Shelter Solutions sales declined low-single digits as construction activity was impacted by stay-at-home orders issued across the globe. DuPont Stock versus S&P 500 Over 2020 Coronavirus/Oil Price War Crisis. DuPont products are shown for sale in a hardware store in National City, California, December 9, 2015. Currency was a 2 percent headwind. Over $200 million of cash was generated in the quarter with cash from operating activities of $718 million and gross proceeds from the sale of the Compound Semiconductor Solutions business of approximately. Organic sales were up 3 percent with a 2 percent price improvement and a 1 percent volume gain. 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 … Industrial materials maker DuPont on Tuesday slashed its capital expenditure by about $500 million and raised its annual cost-savings target to … McMahon Services is an industry-leading, privately-owned industrial, construction and environmental services provider with a family business heritage. 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