IFF Announces Long-Term Outlook, Including Currency Neutral Organic Sales Growth Of 4%-5% Annually. 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 … 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. 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. 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. The industrial giant now expects to save $180 million this year from incremental actions it had announced earlier. A detailed discussion of some of the significant risks and uncertainties which may cause results … This facility replaces the $2.0 billion 364-day delayed-draw facility announced in April 2020, Delayed certain capital investments; now expecting to reduce capital expenditures by ~$500 million versus prior year, Idled production at several manufacturing sites, predominantly production plants within the Transportation & Industrial segment, due to the current global automotive environment, Accelerated working capital initiatives across each business, Increased the anticipated benefits from the incremental 2020 cost actions previously announced; now targeting $180 million of savings in 2020. 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 (NYSE: DD) is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. The company is also establishing score cards for its suppliers to support best practice. This includes optimizing working capital, deferring certain capital expenditures, improving our cost structure, and strengthening our liquidity,” said Lori Koch, DuPont Chief Financial Officer. DuPont recently replaced its CEO and CFO. Quarter ended March 31, 2020. DuPont (DD) Issues Preliminary Q1 Results, Suspends 2020 View. DuPont products are shown for sale in a hardware store in National City, California, December 9, 2015. “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 (DD) expects adjusted earnings per share of 82-84 cents and net sales of $5.2 billion for first-quarter 2020. 3 min read. Currency was a 1 percent headwind. Filings & Reports; Events & Presentations; Stock & Dividend Information; Corporate Governance. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Within Image Solutions, volume gains in flexographic plates, mainly into consumer packaged goods, were mostly offset by weakness in inks and OLEDs. Data is a real-time snapshot *Data is delayed at least 15 minutes. Learn more about Unique Cars and Parts... Common Questions How Does It Work? They are under-performing the … © 2021 CNBC LLC. We want to hear from you. Barring one-time items, earnings came in at 84 cents per share … All Rights Reserved. DuPont de Nemours, Inc. DD is scheduled to come up with its first-quarter 2020 results, before the opening bell on May 5. 21 April 2020. 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. The company expects adjusted earnings per share of 82-84 cents for first-quarter 2020. Organic sales were down 2 percent with a 2 percent price improvement offset by a 4 percent decline in volume. Steady demand across Pharma Solutions contributed to the gains in the quarter. The year-over-year change in cash from working capital improved over $300 million in the quarter versus the same period last year. This represents another important milestone towards creating tremendous opportunity for our employees and customers, as well as significant value for our shareholders.”. 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 … The company’s reported net sales totaled $1.35 billion, up … DuPont Stock versus S&P 500 Over 2020 Coronavirus/Oil Price War Crisis. 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. DuPont trades for about 17 times estimated 2020 earnings, in line with other chemical companies in the S&P. Tweet. 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. 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. 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. Through April, we continue to see strength in personal protection, water filtration, food and beverage, electronics and probiotics. It also anticipates net sales of roughly $5.2 billion for the first quarter. Investors can access information included on the Investor Relations section of the website at www.investors.dupont.com. FY 2019 . 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. 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. Earnings Slides. 10-Q Filing. Got a confidential news tip? US DuPont lowers Q1 sales guidance on coronavirus. US DuPont idles some plants as Q1 sales, earnings fall. “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. 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. ET. The company expects adjusted earnings per share of 82-84 cents for first-quarter 2020. Q4 2020 Dupont De Nemours Inc Earnings Release. Reconciliation to the most directly comparable GAAP measure, including details of significant items begins on page 14 of this communication. Since 1990, our team has delivered some of Australia’s most difficult and significant construction services projects. DuPont now expects to save $180 million this year, compared to $90 million from steps announced in January to take out stranded costs. 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. Mike Blake | Reuters. Currency was flat. PDF HTML. Non-Core reported net sales of $366 million, down 19 percent from the year-ago period. $420 million offset by capital expenditures of $481 million, share repurchases of $232 million, and dividends of $222 million. A Division of NBCUniversal. 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. New to Unique? DuPont de Nemours Inc (DD) Q1 2020 Earnings Call Transcript DD earnings call for the period ending March 31, 2020. Selling Your Car or Parts Place Your Classified Now Buy and Sell: 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. A replay of the webcast also will be available on the DuPont’s Investor Relations Events and Presentations page following the live event. Recent acquisitions in the Water Solutions business increased reported sales by 2 percent. 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. The absence of prior year licensing income of $26 million and lower volumes more than offset improved product mix and productivity actions. 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. PDF . Management reaffirmed 2020 guidance that reaffirmed Adjusted EPS of at least $3.70. Organic sales were up 8 percent driven by a 9 percent volume gain offset by a 1 percent decline in price. 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. The vast majority of the alerts concerned football (20 alerts). Zacks. 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. WILMINGTON, Del., May 5, 2020 - DuPont (NYSE: DD) today announced financial results for the first quarter 2020. 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. Latest Developments More . Safety & Construction reported net sales of $1.3 billion, down 1 percent from the year-ago period. Electronics & Imaging reported net sales of $884 million, up 7 percent from the year-ago period. 2020/05/05. Organic sales were down 10 percent driven by 12 percent volume declines offset by 2 percent pricing gains. Currency was a 1 percent headwind. 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. DuPont 1Q 2020 Earnings Conference Call May 5, 2020. Earnings were down due to the absence of prior-year gains in the Electronics & … Currency was a 2 percent headwind. The Company will host a live webcast of its first quarter earnings conference call with investors to discuss its results and business outlook today at 8:00 a.m. Strong consumer demand in the home & personal care and animal nutrition markets also provided double-digit growth in the quarter. “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. Organic sales were up 3 percent with a 2 percent price improvement and a 1 percent volume gain. 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. Share . “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. 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. 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. Volume growth within Interconnect Solutions was also strong, driven by higher material content in premium, next-generation smartphones. DuPont de Nemours, Inc. DD has issued preliminary results for first-quarter 2020. “We have intensified our focus on what we can control in this rapidly changing business environment by executing on a disciplined plan. The September 2019 divestiture of the DuPont Sustainable Solutions business reduced sales by 9 percent. 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. Thursday, December 10, 2020. For Sale:: Exotic Cars - Sports Cars - Luxury Cars. The company expects adjusted earnings per share of 82-84 cents for first-quarter 2020. “While it is still impossible to predict timing, our markets will eventually stabilize and return to growth. Net sales totaled $5.2 billion, down 4 percent versus 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. 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. The slide presentation that accompanies the conference call will be posted on the DuPont’s Investor Relations Events and Presentations page. The industrial giant had earlier suspended its full-year forecast, citing the pandemic. Transportation & Industrial reported net sales of $1.1 billion, down 13 percent from the year-ago period. 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. Sign up for free newsletters and get more CNBC delivered to your inbox. 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 … ET. WILMINGTON, Del., May 5, 2020 - DuPont (NYSE: DD) today announced financial results for the first quarter 2020. 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 … Get this delivered to your inbox, and more info about our products and services. Author: Al Greenwood. “Additionally, our recent bond offering and our new $1 billion revolving credit facility further strengthen our balance sheet and improve our liquidity position. “These actions will ensure our balance sheet remains strong and all of our businesses are positioned for growth when market demand returns.”. Zacks Equity Research. 2019. Earnings Release. Organic sales were down 12 percent with volume down 8 percent and price lower by 4 percent. In the course of Q1 of 2020 (January - March 2020), GLMS sent out alerts on 24 matches* to its partners. DuPont (DD) earnings Q1 2020. Author: Stefan Baumgarten. 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 expects adjusted earnings per share of 82-84 cents for first-quarter 2020. McMahon Services is an industry-leading, privately-owned industrial, construction and environmental services provider with a family business heritage. Operating EBITDA(2) was $1.3 billion, down 8 percent versus pro forma operating EBITDA(2) in the prior year. It also anticipates net sales of roughly $5.2 billion … First Quarter 2020 Results Net sales totaled $5.2 billion, down 4 percent versus the year-ago period. 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. DuPont de Nemours, Inc. (DD - Free Report) has issued preliminary results for first-quarter 2020. Buy New/Used Supercars at the best prices in the USA from duPont REGISTRY dealers for over 30 years. HOUSTON (ICIS)--DuPont lowered on Wednesday its sales guidance for the first quarter and the full year because of the coronavirus (Covid-19). We are monitoring developments across our geographies and operations on a daily basis and we will continue to adapt to the changing environment. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. The bottom line was hurt by a higher tax rate, lower segment results and higher merger-related amortization expense. 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. (2)   Adjusted EPS, pro forma adjusted EPS, operating EBITDA and pro forma operating EBITDA are non-GAAP measures. 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. As spread of the coronavirus across some of the biggest economies upended global trade, companies are increasingly axing costs and delaying non-essential expenses. Volume declined 8 percent due to lower auto builds, as global automotive production was down nearly 25 percent versus the year-ago period. May 5, 2020 admin Earnings 0. 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. Sales gains were led by Health & Biosciences with high-single digit growth versus the same period last year. It received a favorable judgment in the Chemours lawsuit. Automotive, oil and gas, and select industrial end markets continue to suffer. 2020/03/11. PDF HTML Audio Earnings Webcast. Currency was a 1 percent headwind. 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 … 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. 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. DuPont de Nemours, Inc. DD has issued preliminary results for first-quarter 2020. 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 … Demand for Tyvek® protective garments was robust, leading to a 55 percent increase in garment sales as compared to the same quarter last year which was partially enabled by efforts to increase capacity. The probiotics business recorded its strongest quarter ever with mid-teens growth as key initiatives to strengthen the North America market were implemented and consumer demand for immune health strengthened globally. Deal set to close in Q1 2021. Part of the alerts were also sent to Local Gaming Authorities and law enforcement authorities. International Flavors & Fragrances Inc. (IFF) has reported its financial results for Q1 2020, ending March 31, 2020. Reblog. DuPont products are shown for sale in a hardware store in National City, California, December 9, 2015. More information about the company, its businesses and solutions can be found at www.dupont.com. Similarly, Shelter Solutions sales declined low-single digits as construction activity was impacted by stay-at-home orders issued across the globe. See page 8 for further discussion. 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. 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. 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. DuPont de Nemours, Inc. DD has issued preliminary results for first-quarter 2020. 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. 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. 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. Nutrition & Biosciences reported net sales of $1.5 billion, up 1 percent from the year-ago period. DuPont Investors - Starting June 1, 2019. DuPont Leadership; DuPont Board; Contact the Board of Directors; Contact Investor Relations; Email Alerts; FAQ; DowDuPont Investors - Prior to June 1, 2019. Industrial materials maker DuPont on Tuesday slashed its capital expenditure by about $500 million and raised its annual cost-savings target to … Our innovation capabilities are enabling us to rapidly create and deploy new tools in this battle and we will continue to advance those, along with targeted in-kind and financial donations, to provide as many as possible with our solutions.”, “By continuing to invest in our R&D engine across the Company, prioritizing cash generation, further improving our cost structure, and advancing our portfolio rationalization efforts, we delivered first quarter results above our initial expectations in each core segment and positioned ourselves for future growth and profitability.”, “Along with IFF, we remain committed to creating the global leader in high-value ingredients and solutions for Food & Beverage, Home & Personal Care, and Health & Wellness markets,” Breen added. 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