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DuPont's (DD) Earnings and Revenues Surpass Estimates in Q4
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DuPont de Nemours, Inc. (DD - Free Report) recorded earnings (on a reported basis) from continuing operations of 37 cents per share for fourth-quarter 2020, up from earnings of 24 cents per share in the year-ago quarter.
Barring one-time items, earnings came in at 95 cents per share for the reported quarter, topping the Zacks Consensus Estimate of 92 cents.
DuPont raked in net sales of $5,252 million, up 1% from the year-ago quarter. It also beat the Zacks Consensus Estimate of $5,251 million. Growth in the Electronics & Imaging unit along with continued recovery in automotive markets more than offset softness in oil & gas, aerospace and select industrial markets.
The company saw strong demand in semiconductors, smartphones technologies and Tyvek protective garments in the reported quarter. It also achieved $130 million in non-manufacturing costs savings in the quarter.
DuPont de Nemours, Inc. Price, Consensus and EPS Surprise
The company’s Electronics & Imaging segment recorded net sales of $1 billion in the reported quarter, up 9% on a year-over-year comparison basis. Organic sales rose 8% on 10% higher volumes. The growth was driven by Interconnect Solutions and Semiconductor Technologies. Growth was also witnessed in Image Solutions.
At the Nutrition & Biosciences unit, sales were up 3% year over year to $1.5 billion. Organic sales rose 2% year over year on higher volumes and prices. The company recently completed the separation of the Nutrition & Biosciences business.
Net sales for the Transportation & Industrial division were $1.2 billion in the reported quarter, up 1% year over year. Organic sales fell 1% on 4% lower pricing that offset 3% volume increase. The company saw sustained recovery in the automotive market.
Net sales in the Safety & Construction unit were $1.2 billion, down 2% year over year. Organic sales fell 6% as 1% price improvement was more than offset by 7% lower volume. The company saw strong demand for Tyvek protective garments, offset by softness in aramid fibers across aerospace, oil & gas and certain industrial markets.
In the non-core reporting segment, net sales fell 17% year over year to $337 million, affected by the divestiture of the trichlorosilane business. Organic sales were flat year over year.
FY20 Results
Loss (as reported) from continuing operations for full-year 2020 was $3.95 per share, compared with a loss of 86 cents per share a year ago. Revenues dropped around 5% year over year to $20,397 million for the full year.
Financials
DuPont had cash and cash equivalents of $2,544 million at the end of 2020, up around 65% year over year. Long-term debt was $21,806 million, up roughly 60% year over year.
The company also generated operating cash flow of $4.1 billion and free cash flow of $2.9 billion in 2020.
Outlook
DuPont expects adjusted earnings per share for full-year 2021 in the band of $3.30-$3.45, a 68% increase at the mid-point versus 2020 adjusted earnings of $2.01 per share.
Net sales for the year are forecast to be between $15.4 billion and $15.6 billion, reflecting an increase of 8% at the mid-point versus 2020 net sales of $14.3 billion.
For the first quarter of 2021, DuPont sees net sales in the band of $3.75-$3.85 billion, a 4% rise at the mid-point versus $3.7 billion in the prior-year quarter. Adjusted earnings is predicted in the range of 75-77 cents per share, indicating a 58% increase at the mid-point versus 48 cents per share in the prior-year quarter.
Price Performance
DuPont’s shares are up 46.3% over a year compared with a 21.3% rise recorded by the industry.
Zacks Rank & Key Picks
DuPont currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth considering in the basic materials space include Fortescue Metals Group Limited (FSUGY - Free Report) , Impala Platinum Holdings Limited (IMPUY - Free Report) and New Gold Inc. (NGD - Free Report) .
Fortescue has a projected earnings growth rate of 74.2% for the current fiscal. The company’s shares have surged around 152% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Impala Platinum has an expected earnings growth rate of 189.4% for the current fiscal. The company’s shares have rallied around 53% in the past year. It currently carries a Zacks Rank #1.
New Gold has a projected earnings growth rate of 733.3% for the current year. The company’s shares have shot up around 116% in a year. It currently carries a Zacks Rank #2 (Buy).
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
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DuPont's (DD) Earnings and Revenues Surpass Estimates in Q4
DuPont de Nemours, Inc. (DD - Free Report) recorded earnings (on a reported basis) from continuing operations of 37 cents per share for fourth-quarter 2020, up from earnings of 24 cents per share in the year-ago quarter.
Barring one-time items, earnings came in at 95 cents per share for the reported quarter, topping the Zacks Consensus Estimate of 92 cents.
DuPont raked in net sales of $5,252 million, up 1% from the year-ago quarter. It also beat the Zacks Consensus Estimate of $5,251 million. Growth in the Electronics & Imaging unit along with continued recovery in automotive markets more than offset softness in oil & gas, aerospace and select industrial markets.
The company saw strong demand in semiconductors, smartphones technologies and Tyvek protective garments in the reported quarter. It also achieved $130 million in non-manufacturing costs savings in the quarter.
DuPont de Nemours, Inc. Price, Consensus and EPS Surprise
DuPont de Nemours, Inc. price-consensus-eps-surprise-chart | DuPont de Nemours, Inc. Quote
Segment Highlights
The company’s Electronics & Imaging segment recorded net sales of $1 billion in the reported quarter, up 9% on a year-over-year comparison basis. Organic sales rose 8% on 10% higher volumes. The growth was driven by Interconnect Solutions and Semiconductor Technologies. Growth was also witnessed in Image Solutions.
At the Nutrition & Biosciences unit, sales were up 3% year over year to $1.5 billion. Organic sales rose 2% year over year on higher volumes and prices. The company recently completed the separation of the Nutrition & Biosciences business.
Net sales for the Transportation & Industrial division were $1.2 billion in the reported quarter, up 1% year over year. Organic sales fell 1% on 4% lower pricing that offset 3% volume increase. The company saw sustained recovery in the automotive market.
Net sales in the Safety & Construction unit were $1.2 billion, down 2% year over year. Organic sales fell 6% as 1% price improvement was more than offset by 7% lower volume. The company saw strong demand for Tyvek protective garments, offset by softness in aramid fibers across aerospace, oil & gas and certain industrial markets.
In the non-core reporting segment, net sales fell 17% year over year to $337 million, affected by the divestiture of the trichlorosilane business. Organic sales were flat year over year.
FY20 Results
Loss (as reported) from continuing operations for full-year 2020 was $3.95 per share, compared with a loss of 86 cents per share a year ago. Revenues dropped around 5% year over year to $20,397 million for the full year.
Financials
DuPont had cash and cash equivalents of $2,544 million at the end of 2020, up around 65% year over year. Long-term debt was $21,806 million, up roughly 60% year over year.
The company also generated operating cash flow of $4.1 billion and free cash flow of $2.9 billion in 2020.
Outlook
DuPont expects adjusted earnings per share for full-year 2021 in the band of $3.30-$3.45, a 68% increase at the mid-point versus 2020 adjusted earnings of $2.01 per share.
Net sales for the year are forecast to be between $15.4 billion and $15.6 billion, reflecting an increase of 8% at the mid-point versus 2020 net sales of $14.3 billion.
For the first quarter of 2021, DuPont sees net sales in the band of $3.75-$3.85 billion, a 4% rise at the mid-point versus $3.7 billion in the prior-year quarter. Adjusted earnings is predicted in the range of 75-77 cents per share, indicating a 58% increase at the mid-point versus 48 cents per share in the prior-year quarter.
Price Performance
DuPont’s shares are up 46.3% over a year compared with a 21.3% rise recorded by the industry.
Zacks Rank & Key Picks
DuPont currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth considering in the basic materials space include Fortescue Metals Group Limited (FSUGY - Free Report) , Impala Platinum Holdings Limited (IMPUY - Free Report) and New Gold Inc. (NGD - Free Report) .
Fortescue has a projected earnings growth rate of 74.2% for the current fiscal. The company’s shares have surged around 152% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Impala Platinum has an expected earnings growth rate of 189.4% for the current fiscal. The company’s shares have rallied around 53% in the past year. It currently carries a Zacks Rank #1.
New Gold has a projected earnings growth rate of 733.3% for the current year. The company’s shares have shot up around 116% in a year. It currently carries a Zacks Rank #2 (Buy).
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>