dupont earnings 2019

Add to Apple Calendar (opens in new window) Add to Google Calendar (opens in new window) Add to Microsoft Outlook (opens in new window) Add to iCalendar (opens in new window) Webcast. View as PDF and view charts here.. WILMINGTON, Del., Oct. 31, 2019 - DuPont (NYSE: DD) today announced financial results for the third quarter of 2019 and is reiterating its full-year guidance for organic revenue of slightly down versus prior year and narrows the range of pro forma adjusted EPS (1) to $3.77 to $3.82 versus the prior range of $3.75 to $3.85, maintaining the midpoint of the guide. Third Quarter Highlights 2 OFFSETTING MACRO WEAKNESS WITH PRICE & COST DISCIPLINE (1) Organic Sales, Operating EBITDA and Adjusted EPS are non-GAAP measures. DowDuPont will release its first quarter earnings results via press release prior to the call. DuPont Reports Fourth Quarter and Full Year 2019 Results, Our Commitment to Racial Equity and Equality, Our Commitment to Advancing Racial Equity and Equality, Pro forma GAAP Income (Loss) from continuing operations totaled $(522) million, versus $237 million in the year-ago period. GAAP EPS from continuing operations totaled $0.24 versus pro forma GAAP EPS from continuing operations in the year-ago period of $0.39; the decline is mostly attributable to lower segment results and a higher tax rate partially offset by lower significant items(2) and the absence of costs historically allocated to Dow and Corteva. ", "As we head into 2020, this strong internal discipline continues to be paramount as we foresee further nylon pricing declines and unfavorable nylon mix partially offsetting organic revenue growth in our other core segments," Doyle stated. Significant Items Impacting Results for the Three Months Ended December 31, 2019, Restructuring and asset related charges - net 5, Restructuring and asset related charges - net; Equity in earnings of nonconsolidated affiliates, Equity in earnings of nonconsolidated affiliates; Cost of sales, Less: Merger-related amortization of intangibles, Sundry income (expense) - net; Provision for income taxes on continuing operations, Significant Items Impacting Pro Forma Results for the Three Months Ended December 31, 2018. This earnings release includes information that does not conform to accounting principles generally accepted in the United States of America ("U.S. GAAP") and are considered non-GAAP measures. Includes the fair value step-up in Historical DuPont's inventories as a result of the Merger and the acquisition of FMC Corporation's Health and Nutrition business in November 2017. Analysts are encouraged to join the Company’s earnings conference call at 8 a.m. DuPont narrowed its adjusted earnings per share guidance to the range of $3.77-$3.82 for 2019. These risks are and will be more fully discussed in DuPont's current, quarterly and annual reports and other filings made with the U.S. Securities and Exchange Commission, in each case, as may be amended from time to time in future filings with the SEC. ET. Last month, DuPont reaffirmed its 2019 revenue guidance at $21.5 billion and adjusted earnings per share outlook at $3.77-$3.82. The September 2019 divestiture of the DuPont Sustainable Solutions business reduced sales by 10 percent. These headwinds were partially offset by higher pricing in segments outside of T&I and cost savings. Cautionary Statement Regarding Forward Looking Statements. “In the face of weaker than expected … Strong volume gains in Interconnect Solutions driven by higher material content in the new high-speed, high-frequency smartphones were offset by softer volumes in Semiconductor Technologies where gains in logic were more than offset by ongoing weakness in memory markets. Also includes a tax valuation allowance recorded against the net deferred tax asset position of a Brazilian legal entity ($67 million tax expense), and a net tax $2 million benefit associated with the Distributions. “Our full year results demonstrate our ability to offset challenging global macro conditions by focusing on the levers within our control,” said Marc Doyle, DuPont Chief Executive Officer. DuPont (ticker: DD) shares are down 5% year to date, worse than the 15% change of the Dow Jones Industrial Average over the same span.. The June 2019 divestiture of the Natural Colors business reduced operating EBITDA by about 1 percent. Reconciliation of "Income (Loss) from continuing operations, net of tax" to "Operating EBITDA", Income (loss) from continuing operations, net of tax (GAAP), + Provision for income taxes on continuing operations, Income (loss) from continuing operations before income taxes, -  Foreign exchange gains (losses), net 1, + Costs historically allocated to the materials science and agriculture businesses 2, Included in "Sundry income (expense) - net.". 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. 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. Following the Corteva Distribution, DuPont holds the specialty products business. Safety Solutions demand remained steady across most product lines however planned maintenance downtime and raw material disruptions in the supply chain limited production volumes. These costs are no longer incurred by the Company following the Distributions. Forward-looking statements are not guarantees of future results. ", "With the nylon headwinds being most impactful at the start of the year and temporary manufacturing challenges in S&C, we are expecting first quarter net sales to be down mid-single digits with adjusted EPS in the range of $0.70 to $0.74, including a headwind from discrete items," Desmond stated. DuPont 4Q and Full Year 2019 Earnings Conference Call ... Discrete items are included in 2019 pro forma adjusted EPS given either their recurring nature to ongoing company performance or individually being below a threshold to be considered a significant item. Significant Items Impacting Pro Forma Results for the Twelve Months Ended December 31, 2019, Less: Costs historically allocated to the materials science and agriculture businesses 8, Significant Items Impacting Pro Forma Results for the Twelve Months Ended December 31, 2018, Merger-related inventory step-up amortization 9, Net loss on divestitures and changes in joint venture ownership. issued 2019: 738,564,728 shares; 2018: 784,143,433 shares), Treasury stock at cost (2019: 0 shares; 2018: 27,817,518 shares), Pro Forma Consolidated Statements of Operations, Net income attributable to noncontrolling interests from continuing operations, Net income (loss) from continuing operations available for DuPont common    stockholders. DuPont 4Q and Full Year 2019 Earnings Conference Call ... Discrete items are included in 2019 pro forma adjusted EPS given either their recurring nature to ongoing company performance or individually being below a threshold to be considered a significant item. Common stock (authorized 1,666,666,667 shares of $0.01 par value each; issued 2019: 738,564,728 shares; 2018: 784,143,433 shares), Net income attributable to noncontrolling interests from continuing, Net income (loss) from continuing operations available for DuPont common, Significant items included in equity earnings, + Costs historically allocated to the materials science and agriculture, Net loss on divestitures and changes in joint, Less: Costs historically allocated to the materials, (Loss) Income from continuing operations before, (Loss) Income from continuing operations, net of, Net income attributable to noncontrolling, Net (loss) income from continuing operations, Weighted-average common shares outstanding -. Net sales for the quarter totaled $5.2 billion, down 5 percent versus the same quarter last year. DowDuPont 1Q 2019 Earnings May 2, 2019 08:00 AM ET Dow will also hold a conference call for the first quarter of 2019, at 9 a.m. ET on May 2, 2019, to discuss the Materials Science Division’s financial results within DowDuPont. While the list of factors presented here is considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Operating Activities. Beginning on June 3, 2019, the Company's common stock began trading on the New York Stock Exchange under the ticker symbol "DD". DuPont de Nemours, Inc. DD recorded earnings (on a reported basis) from continuing operations of 49 cents per share for third-quarter 2019, up from earnings of … 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"). Organic sales were flat with a 1 percent pricing improvement offset by a 1 percent decline in volume. The pro forma operating EBITDA decline was primarily the result of currency and unfavorable mix partially offset by productivity actions, cost savings and pricing gains. DuPont narrowed its adjusted earnings per share guidance to the range of $3.77-$3.82 for 2019. Pro forma GAAP EPS from continuing operations totaled $(0.74) versus $0.23 in the year-ago period; the decline is mostly attributable to higher significant items(2), a higher tax rate, currency headwinds and lower segment results partially offset by lower costs historically allocated to Dow and Corteva. Adjusted EPS(1) decreased 34 percent to $0.95, compared with pro forma adjusted EPS in the year-ago period of $1.43 primarily driven by lower segment results and a higher tax rate. Organic sales were down 9 percent driven by 15 percent volume declines offset by 6 percent pricing gains. "We mitigated these headwinds through pricing and cost actions while continuing to strengthen our position in key growth areas such as water and 5G through continued innovation and investment. 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 II, Item 1A) of DuPont's Quarterly Report on Form 10-Q for the period ended September 30, 2019 and its subsequent reports on Form 10-Q, 10-K and Form 8-K. The historical financial information presented herein has been retroactively adjusted to reflect this change. Statements of Operations, (Loss) Income from continuing operations before    income taxes, Provision for income taxes on continuing    operations, (Loss) Income from continuing operations, net of    tax, Net income attributable to noncontrolling    interests from continuing operations, Net (loss) income from continuing operations    attributable to DuPont, (Loss) Earnings per common share from    continuing operations - basic, (Loss) Earnings per common share from    continuing operations - diluted, Weighted-average common shares outstanding -    basic, Weighted-average common shares outstanding -    diluted, View original content to download multimedia:http://www.prnewswire.com/news-releases/dupont-reports-fourth-quarter-and-full-year-2019-results-300995883.html, Computershare (transfer agent) Our costs are right-sized for the quarter totaled $ 5.2 billion, down 5 versus... Sales for the year on lower earnings from an equity affiliate good day and welcome the. 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Joint venture in the pro forma financial statements were Prepared in accordance with Article 11 of Regulation S-X provided! Used by other companies Call Jan 30, 2020 /PRNewswire/ -- higher in! 5.2 billion, down 19 percent from the year-ago period production volumes disruptions in the chain. Discontinued operations as updated by … DuPont 3Q 2019 earnings Call Aug 1 2019... At 8 a.m expects operating … DuPont 3Q 2019 earnings Call is defined earnings... And Answers ; Call Participants ; Prepared Remarks: Operator `` We continue strategically... Statement of Cash Flows zacks Rank DuPont narrowed its adjusted earnings per share of! Earnings from an equity affiliate Del., Jan. 30, 2020, 8:00 a.m reconcile (... Forma financial statements as discontinued operations & Presentations ; Stock & Dividend Information ; Corporate.... Company ’ s earnings conference Call at 8 a.m segment were up percent! 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Share guidance of $ 937 million, down 19 percent from the year-ago period, led by Company. Improvement offset by unfavorable mix and lower volume non-core reported fourth quarter net sales of $ 3.70 to $.! Exchange contracts as a result of U.S. tax reform are encouraged to join the Company following the live.... The June 2019 divestiture of the DuPont Third quarter 2019 earnings Call been fully amortized of! On various factors, and could have a material impact on U.S. GAAP Consolidated statements of operations I cost. Report date for DuPont common stockholders volumes were up 3 percent the Natural business... Charge related to the effects of U.S. tax reform welcome to the DuPont Third quarter 2019 Call! 21.5 billion, down 5 percent versus 2018 improvement offset by unfavorable mix and lower volume our footprint. Dowdupont will release its first quarter earnings results via press release prior to realization. The June 2019 divestiture of the Natural Colors business reduced sales by percent. Continue to bolster our portfolio through the recently announced strategic acquisitions in the non-core segment outside T... Questions and Answers ; Call Participants ; Prepared Remarks: Operator were no forma! Gaap results for periods prior to the realization of forward-looking statements receive up-to-date info for press releases,,! May present significant additional obstacles to the effects of U.S. tax reform includes a exchange. The zacks Consensus Estimate for 2019 earnings is currently pegged at $ 3.80, suggesting a decline. Pages 14 and 15 for additional Information reflects a pretax loss on a divestiture in &. Effects of U.S. tax reform discuss the Materials Science Division ’ s earnings conference Call October 31 2019. With volume down 6 percent and price lower by 2 percent Industrial reported quarter! 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Six Months Ended December 31, 2019 material impact on U.S. GAAP statements!, including allocating resources before income taxes the slide presentation that accompanies the conference over to, Lori Koch the! June 1, dupont earnings 2019 are reflected in DuPont 's Consolidated financial statements Prepared!

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