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    Dupont De Nemours Inc (DD)

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    DuPont is a global innovation leader that provides technology-based materials and solutions across various industries, including electronics, transportation, construction, water, healthcare, and worker safety . The company operates primarily through two segments: Electronics & Industrial, and Water & Protection . DuPont's diverse product lines and strategic market presence enable it to maintain a robust revenue stream, with the Electronics & Industrial segment being a major contributor to its financial performance .

    1. Electronics & Industrial - Offers product lines such as Semiconductor Technologies, Interconnect Solutions, and Industrial Solutions, serving applications in integrated circuit fabrication, printed circuit boards, and industrial finishing .

      • Semiconductor Technologies - Provides materials and solutions for integrated circuit fabrication.
      • Interconnect Solutions - Supplies products for printed circuit boards.
      • Industrial Solutions - Delivers materials for industrial finishing applications.
    2. Water & Protection - Focuses on providing innovative engineered products and integrated systems for industries like worker safety, water purification, and building materials .

      • Kevlar® - Known for its high-strength materials used in protective gear.
      • Nomex® - Offers flame-resistant materials for safety applications.
      • Tyvek® - Provides protective materials for construction and other industries.
    NamePositionStart DateShort Bio
    Edward D. BreenExecutive Chairman and Chief Executive OfficerFebruary 17, 2020Edward D. Breen has been serving as the Executive Chairman of the Board of Directors since June 1, 2019, and as CEO since February 17, 2020. He was previously CEO of DowDuPont and has held leadership roles at Tyco International, Motorola, and General Instrument Corporation .
    Lori D. KochChief Executive OfficerJune 1, 2024Lori D. Koch has been serving as CEO since June 1, 2024. She was previously the CFO from February 2020 and held various roles within the company, including Vice President of Investor Relations and Corporate Financial Planning & Analysis .
    Antonella B. FranzenChief Financial OfficerJune 1, 2024Antonella B. Franzen was appointed as CFO effective June 1, 2024. She previously served as CFO of the Water & Protection segment and held various roles at Johnson Controls International and Tyco International .
    Christopher RaiaSenior Vice President and Chief Human Resources OfficerMarch 2021Christopher Raia has served as the Senior Vice President and Chief Human Resources Officer since March 2021. He was previously Vice President and Interim Chief Human Resources Officer and has held positions at Newell Brands and Citizens Bank .
    Erik T. HooverSenior Vice President and General CounselJune 2019Erik T. Hoover has served as Senior Vice President and General Counsel since June 2019. He was previously General Counsel for the Specialty Products Division of DowDuPont and has worked at Blank Rome LLP .
    Steve LarrabeeSenior Vice President and Chief Information OfficerJune 2019Steve Larrabee has served as Senior Vice President and CIO since June 2019. He was previously CIO for the Specialty Products Division of DowDuPont and has held roles at Mars, Incorporated .
    Jon KempPresident, Electronics & IndustrialAugust 2019Jon Kemp has served as President, Electronics & Industrial since August 2019. He was previously Head of Strategy for the Specialty Products Division of DowDuPont and President of DuPont Electronics & Communications .
    Leland WeaverPresident, Water & ProtectionSeptember 2021Leland Weaver has served as President, Water & Protection since September 2021. He joined DuPont in 2003 and has held various leadership positions across multiple businesses .
    1. Given your anticipation of price givebacks in the shelter segment carrying forward into 2025, and the expectation of low single-digit activity in construction markets due to fewer rate cuts than anticipated, how do you plan to mitigate margin pressures and drive growth in this environment?

    2. With normal seasonal declines expected in your electronics and construction markets, along with a moderation of growth in China, how confident are you in achieving your Q4 guidance of 6% net sales growth, and what risks could impact these projections?

    3. As you work to accelerate the separations of your electronics and water businesses closer to the earlier end of the 18- to 24-month timeline, what specific operational challenges do you foresee, and how will you ensure that the new companies are prepared to operate and execute from day one without disrupting current performance?

    4. The strong margins in the Water & Protection segment were attributed to operational execution, restructuring actions, and productivity improvements. With expectations of some price givebacks in 2025, how sustainable are these margin improvements, and what additional measures will you take to maintain profitability?

    5. Given that the majority of your cash flow next year will be used for separation costs, with no additional share repurchases or significant CapEx planned, how do you plan to deliver shareholder value in the near term, and are there opportunities to adjust your capital allocation strategy post-separation?

    Program DetailsProgram 1Program 2
    Approval DateNovember 2022 First quarter of 2024
    End Date/DurationCompleted in Q1 2024 June 30, 2025
    Total additional amount$5 billion $1 billion
    Remaining authorization$0 $500 million
    DetailsProgram completed Ongoing, may include accelerated share repurchase agreements

    Competitors mentioned in the company's latest 10K filing.

    • Element Solutions - Competitor in Electronics & Industrial segment .
    • Entegris - Competitor in Electronics & Industrial segment .
    • Henkel - Competitor in Electronics & Industrial segment .
    • JSR - Competitor in Electronics & Industrial segment .
    • Merck KGaA - Competitor in Electronics & Industrial segment .
    • MKS Instruments - Competitor in Electronics & Industrial segment .
    • Parker Hannifin - Competitor in Electronics & Industrial segment .
    • TOK - Competitor in Electronics & Industrial segment .
    • 3M - Competitor in Water & Protection segment .
    • Honeywell - Competitor in Water & Protection segment .
    • Hydranautics - Competitor in Water & Protection segment .
    • Kingspan - Competitor in Water & Protection segment .
    • Kolan - Competitor in Water & Protection segment .
    • Lanxess - Competitor in Water & Protection segment .
    • LG Chem - Competitor in Water & Protection segment .
    • Owens-Corning - Competitor in Water & Protection segment .
    • Ecolab - Competitor in Water & Protection segment .
    • Avient - Competitor in Water & Protection segment .
    • Toray - Competitor in Water & Protection segment .
    • Teijin - Competitor in Water & Protection segment .
    • Yantai - Competitor in Water & Protection segment .
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLPDecember 31, 2019 PresentCurrent auditor.
    Deloitte & Touche LLP1905 December 31, 2018 Part of the company's planned activities related to its intended separation into three independent, publicly traded companies.

    Recent developments and announcements about DD.

    Financial Reporting

      Earnings Call

      ·
      Nov 5, 2024, 1:01 PM

      DuPont recently released its third-quarter 2024 earnings call transcript, highlighting several key financial and strategic points. The company reported strong financial performance with consolidated net sales of $3.2 billion, marking a 3% increase in organic sales compared to the previous year. Operating EBITDA rose by 11% to $857 million, and adjusted EPS increased by 28% to $1.18. DuPont also achieved a transaction-adjusted free cash flow conversion of 130% .

      Management provided forward guidance, raising expectations for full-year 2024 operating EBITDA and adjusted EPS. The Electronics and Industrial segment experienced double-digit sales growth, driven by demand for advanced node chips and AI technologies. The Water & Protection segment showed improvement, particularly in water and medical packaging markets .

      Strategically, DuPont is progressing with the planned separations of its electronics and water businesses, aiming to complete these within 18 to 24 months from the initial announcement in May 2024. The company is also focusing on operational excellence, having invested significantly in employee training and process optimization to drive productivity and reduce costs .

      During the earnings call, analysts inquired about various topics, including the impact of an ITC complaint related to Tyvek products, new product developments in the battery adhesives space, and the competitive landscape in China. Management addressed these questions, emphasizing their commitment to defending intellectual property and highlighting growth opportunities in the EV and healthcare sectors .

      Overall, DuPont's management expressed confidence in their strategic initiatives and financial outlook, positioning the company for continued growth and value creation .