DuPont de Nemours, Inc. (NYSE:DD) Q3 2020 Earnings Conference Call October 29, 2020 8:00 AM ET Company Participants. 8. 8. 2020. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors" (Part I, Item 1A) of DuPont's 2019 Annual Report on Form 10-K and as updated by DuPont's subsequent periodic and current reports filed with the SEC. Leland Weaver – Investor Relations. “In the midst of the ongoing pandemic we delivered results ahead of expectations, while also continuing our ... by lower volumes and the absence of earnings from the DuPont Sustainable Solutions divestiture. In May 2019, the funds from the Term Loan Facilities were drawn, along with the issuance of approximately $1.4 billion in commercial paper (the "Funding CP Issuance" together with the 2018 Senior Notes and Term Loan Facilities, the "Financings"). Reflects a $270 million pre-tax impairment charge recorded in first quarter 2020 related to a long-lived asset group within the Non-Core segment, a $21 million pre-tax impairment charge recorded in the second quarter 2020 related to other intangible assets within the Transportation & Industrial segment, and $370 million in pre-tax impairment charges recorded in third quarter 2020 related to long-lived asset groups and other intangible assets within the Non-Core segment. 5. DuPont de Nemours, Inc. (DD - Free Report) recorded a loss (on a reported basis) from continuing operations of $3.37 per share for second-quarter 2020, wider than a loss of $1.48 … Zacks Rank 3. Organic sales were up 8 percent driven by a 9 percent growth in volume offset by a 1 percent decline in price. September 30, Selling, general and administrative expenses, Restructuring and asset related charges - net, Equity in earnings of nonconsolidated affiliates, Income (loss) from continuing operations before income taxes, Provision for income taxes on continuing operations, (Loss) income from continuing operations, net of tax, Income from discontinued operations, net of tax, Net income attributable to noncontrolling interests, Net (loss) income available for DuPont common stockholders, (Loss) Earnings per common share from continuing operations - basic, Earnings per common share from discontinued operations - basic, (Loss) Earnings per common share from continuing operations - diluted, Earnings per common share from discontinued operations - diluted, (Loss) Earnings per common share - diluted, Weighted-average common shares outstanding - basic, Weighted-average common shares outstanding - diluted, DuPont de Nemours, Inc. Consolidated Balance Sheets, In millions, except share and per share amounts (Unaudited), Investments in nonconsolidated affiliates, Property, plant and equipment - net of accumulated depreciation (September 30, 2020 - $5,757; December 31, 2019 - $4,969), Short-term borrowings and finance lease obligations, Liabilities related to assets held for sale, Pension and other post employment benefits - noncurrent, Common stock (authorized 1,666,666,667 shares of $0.01 par value each;
Oct. 28, 2020 1:09 PM ET DuPont de Nemours, Inc. (DD) By: Gaurav Batavia, SA News Editor 3 Comments. Significant Items Impacting Results for the Nine Months Ended September 30, 2020, Significant Items Impacting Pro Forma Results for the Nine Months Ended September 30, 2019, Sundry income (expense) - net; Provision for income taxes on continuing operations, Less: Costs historically allocated to the materials science and agriculture businesses 12, Cost of sales; Research and development expense; Selling, general and administrative expenses. Integration and separation costs related to post-Merger integration and beginning in the fourth quarter of 2019, the intended separation of the Nutrition & Biosciences business. +1 201-680-6578 (Toll; outside US + Canada)
You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. +1 800-231-5469 (Hearing Impaired), DuPont Investor Relations:
Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. "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. @/i, failureMessage: "A valid email address is required", negate: "true"});var dom2 = document.querySelector('#form1783 #field2');var field2 = new LiveValidation(dom2, {validMessage: "", onlyOnBlur: false, wait: 300});field2.add(Validate.Presence, {failureMessage:"This field is required"});var dom5 = document.querySelector('#form1783 #field5');var field5 = new LiveValidation(dom5, {validMessage: "", onlyOnBlur: false, wait: 300});field5.add(Validate.Custom, {against: function(value) {return !value.match(/(telnet|ftp|https?):\/\/(?:[a-z0-9][a-z0-9-]{0,61}[a-z0-9]\.|[a-z0-9]\. Operating EBITDA for the segment was $379 million, an increase of 7 percent from operating EBITDA of $354 million in the year-ago period. Management uses these measures internally for planning, forecasting and evaluating the performance of the Company, including allocating resources. Earnings per share can be defined as a company's net earnings or losses attributable to common shareholders per diluted share base, which includes all convertible securities and debt, options and warrants. “Our team remains committed to emphasizing the safety and well-being of our employees, prioritizing the needs of our customers, and executing on a playbook that enables us to quickly respond to the changing environment” said Ed … DuPont de Nemours Inc Q1 2020 Earnings Call May 5, 2020, 8:00 a.m. 4. Conference CallThe Company will host a live webcast of its third quarter earnings conference call with investors to discuss its results and business outlook today at 8:00 a.m. DuPont expects adjusted earnings per share for full-year 2020 in the band of $3.17-$3.21. Reconciliation of "Income (Loss) from continuing operations, net of tax" to "Operating EBITDA", Loss (income) from continuing operations, net of tax (GAAP), + Provision for income taxes on continuing operations, + Costs historically allocated to the materials science and agriculture businesses 3, 1. Significant items are items that arise outside the ordinary course of the Company's business that management believes may cause misinterpretation of underlying business performance, both historical and future, based on a combination of some or all of the item's size, unusual nature and infrequent occurrence. pro forma income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, and foreign exchange gains / losses, excluding the impact of costs historically allocated to the materials science and agriculture businesses that did not meet the criteria to be recorded as discontinued operations and adjusted to exclude significant items. *The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. The following slide deck was published by DuPont de Nemours, Inc. in conjunction with their 2020 Q3 earnings call.. Unaudited Pro Forma Financial Information. On a regional basis, organic sales increased 3 percent in Asia Pacific versus the year-ago period while the U.S. and Canada declined 10 percent, EMEA declined 15 percent, and Latin America declined 3 percent. DuPont (ticker: DD) earned 95 cents a share from $5.2 billion in sales. Organic, Percent change from prior year (Unaudited), DuPont de Nemours, Inc. Common stock (authorized 1,666,666,667 shares of $0.01 par value each; issued 2020: 733,845,391 shares; 2019: 738,564,728 shares), Significant items included in equity earnings, + Costs historically allocated to the materials science and agriculture businesses, Cash provided by operating activities (GAAP), Less: Costs historically allocated to the materials science and agriculture businesses. DuPont de Nemours, Inc. Consolidated Statement of Cash Flows. The September 2019 divestiture of the DuPont Sustainable Solutions business and the September 2020 divestiture of the trichlorosilane business reduced sales by 10 percent. DuPont is a world-class multi-industry specialty solutions company with large global businesses aligned with growing, attractive end-markets.
GAAP EPS from continuing operations totaled $(0.11) on a GAAP loss from continuing operations of $(72) million, versus GAAP EPS from continuing operations of $0.49 on GAAP income from continuing operations of $372 million in the year-ago period. Net sales totaled $5.1 billion, down 6 percent versus the year-ago period on both an as reported and organic basis. Net (loss) income $ (3,153) $ 412. when the property, plant and equipment was acquired) YTD 6/30/2020 totaled $407 million, the difference mostly attributable to property, plant and equipment acquired in 2019 with the associated cash outlay in 2020. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? Operating EBITDA(2) was $1.3 billion, down 7 percent versus operating EBITDA(2) in the prior year. DuPont 1Q 2020 Earnings Conference Call May 5, 2020. DuPont de Nemours, Inc. Reconciliation to the most directly comparable GAAP measure, including details of significant items begins on page 13 of this communication. In millions (Unaudited) Nine Months Ended September 30, 2020. 2. Adjustments to reconcile net (loss) income to net cash provided by (used for) operating activities: Depreciation and amortization. var dom1 = document.querySelector('#form1783 #field1');var field1 = new LiveValidation(dom1, {validMessage: "", onlyOnBlur: false, wait: 300});field1.add(Validate.Presence, {failureMessage:"This field is required"});field1.add(Validate.Format, {pattern: /(^[A-Z0-9!#$%&'\*\+\-\/=\?\^_`\{\|\}~][A-Z0-9!#$%&'\*\+\-\/=\?\^_`\{\|\}~\.]{0,62}@(([A-Z0-9](?:[A-Z0-9\-]{0,61}[A-Z0-9])?)(\.[A-Z0-9](?:[A-Z0-9\-]{0,61}[A-Z0-9])? 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Reconciliation of "Cash provided by operating activities" to Free Cash Flow, Cash provided by operating activities (GAAP) 1. DuPont de Nemours, Inc. Consolidated Statement of Cash Flows. DuPont Q2 2020 Earnings Preview Jul. ", "In September, we completed the sale of our trichlorosilane business and our stake in the Hemlock Semiconductor joint venture and earlier this month we signed an agreement to sell the Biomaterials business," Breen continued. 2. 2020. This decline is mostly attributable to non-cash impairment charges associated with Non-Core businesses, higher merger-related amortization expense and lower segment results, partially offset by gains associated with divestitures of Non-Core businesses. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," and similar expressions and variations or negatives of these words. 2,163 DuPont de Nemours, Inc. (DD Quick Quote DD - Free Report) recorded a loss (on a reported basis) from continuing operations of $3.37 per share for second-quarter 2020… 11. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. DuPont Revenue & Cost Synergy Capture 4Q 2019 1H 2020 2H 2020 1Q 2021 Post Close (1) Pending regulatory approval and customary closing conditions. Although a significant improvement versus second quarter performance the global auto market continues its recovery from steep declines in the first half of the year. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP results for the guidance period. The absence of a prior year gain on the sale of DuPont Sustainable Solutions, lower volumes and the impact of the trichlorosilane and Hemlock Semiconductor divestitures in September 2020 more than offset cost productivity. Costs previously allocated to the materials science and agriculture businesses that did not meet the definition of expenses related to discontinued operations in accordance with ASC 205. “Our team remains committed to emphasizing the safety and well-being of our employees, prioritizing the needs of our customers, and executing on a playbook that enables us to quickly respond to the changing environment” said Ed … Earnings (loss) per common share from continuing operations - diluted. 1,546. The unaudited pro forma financial information (the "pro forma financial statements") is derived from DuPont's Consolidated Financial Statements and accompanying notes, adjusted to give effect to certain events directly attributable to the Distributions and Financings (as defined below). Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties and assumptions, many of which that are beyond DuPont's control, that could cause actual results to differ materially from those expressed in any forward-looking statements. Interconnect Solutions organic sales also increased high-single digits, despite an overall decline in the global smartphone market, driven by higher material content in premium, next-generation smartphones. DuPont is trading for about 13 times estimated 2020 earnings. Similar measures provided or used by other companies and 10 percent `` commitment... 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