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DuPont (DD) Gears Up for Q1 Earnings: What's in the Cards?
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DuPont de Nemours, Inc. (DD - Free Report) is scheduled to come up with first-quarter 2024 results, before the opening bell on May 1.
The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters. In this timeframe, it delivered an earnings surprise of 4.5%, on average. It posted an earnings surprise of roughly 2.4% in the last reported quarter.
DuPont is expected to have benefited from its innovation-driven investment and pricing and productivity actions in the first quarter. However, its results are likely to reflect the impacts of demand softness in specific businesses.
DuPont’s shares are up 6.2% over a year compared with the 7.3% decline recorded by the industry it belongs to.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What do the Estimates Say?
The Zacks Consensus Estimate for revenues for the first quarter for DuPont is currently pinned at $2,873.5 million, suggesting an expected year-over-year decline of 6.7%.
Some Factors to Watch For
DuPont’s water business is exposed to headwinds from the slowdown in China. Its water solutions business is likely to have seen sales moderation in the March quarter due to softer demand in China resulting from the slowdown in the industrial economy and inventory de-stocking. DD, in its fourth-quarter call, said that it sees sales in the Water & Protection unit to decline roughly 4% year over year in 2024 factoring in the de-stocking impact in first-half 2024.
The Industrial Solutions business is also being challenged by de-stocking within biopharma applications. DuPont is expected to have witnessed additional channel inventory de-stocking within its industrial-based businesses in the first quarter.
Our estimate for the company’s Electronics & Industrial segment is pinned at $1,272.7 million, indicating a 1.8% year over year decline. The same for the Water & Protection unit is pegged at $1,267.9 million, suggesting a 12.5% year over year decline.
Nevertheless, DuPont is likely to have benefited from its cost and productivity actions in the quarter to be reported. Savings from its restructuring actions are expected to have aided its performance. DD is also expected to have gained from its pricing actions. Moreover, the Spectrum Plastics Group acquisition is likely to have contributed to first-quarter results.
Our proven model does not conclusively predict an earnings beat for DuPont this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for DuPont is +0.39%. The Zacks Consensus Estimate for the first quarter is currently pegged at 65 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: DuPont currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:
The consensus estimate for IOSP’s earnings for the first quarter is currently pegged at $1.64.
Kinross Gold Corporation (KGC - Free Report) , slated to release earnings on May 7, has an Earnings ESP of +4.49% and carries a Zacks Rank #3 at present.
The consensus mark for KGC’s first-quarter earnings is currently pegged at 6 cents.
Ingevity Corporation (NGVT - Free Report) , scheduled to release first-quarter earnings on May 1, has an Earnings ESP of +39.29%.
The Zacks Consensus Estimate for NGVT's earnings for the first quarter is currently pegged at 37 cents. NGVT currently carries a Zacks Rank #1.
Image: Bigstock
DuPont (DD) Gears Up for Q1 Earnings: What's in the Cards?
DuPont de Nemours, Inc. (DD - Free Report) is scheduled to come up with first-quarter 2024 results, before the opening bell on May 1.
The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters. In this timeframe, it delivered an earnings surprise of 4.5%, on average. It posted an earnings surprise of roughly 2.4% in the last reported quarter.
DuPont is expected to have benefited from its innovation-driven investment and pricing and productivity actions in the first quarter. However, its results are likely to reflect the impacts of demand softness in specific businesses.
DuPont’s shares are up 6.2% over a year compared with the 7.3% decline recorded by the industry it belongs to.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What do the Estimates Say?
The Zacks Consensus Estimate for revenues for the first quarter for DuPont is currently pinned at $2,873.5 million, suggesting an expected year-over-year decline of 6.7%.
Some Factors to Watch For
DuPont’s water business is exposed to headwinds from the slowdown in China. Its water solutions business is likely to have seen sales moderation in the March quarter due to softer demand in China resulting from the slowdown in the industrial economy and inventory de-stocking. DD, in its fourth-quarter call, said that it sees sales in the Water & Protection unit to decline roughly 4% year over year in 2024 factoring in the de-stocking impact in first-half 2024.
The Industrial Solutions business is also being challenged by de-stocking within biopharma applications. DuPont is expected to have witnessed additional channel inventory de-stocking within its industrial-based businesses in the first quarter.
Our estimate for the company’s Electronics & Industrial segment is pinned at $1,272.7 million, indicating a 1.8% year over year decline. The same for the Water & Protection unit is pegged at $1,267.9 million, suggesting a 12.5% year over year decline.
Nevertheless, DuPont is likely to have benefited from its cost and productivity actions in the quarter to be reported. Savings from its restructuring actions are expected to have aided its performance. DD is also expected to have gained from its pricing actions. Moreover, the Spectrum Plastics Group acquisition is likely to have contributed to first-quarter results.
DuPont de Nemours, Inc. Price and EPS Surprise
DuPont de Nemours, Inc. price-eps-surprise | DuPont de Nemours, Inc. Quote
Zacks Model
Our proven model does not conclusively predict an earnings beat for DuPont this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for DuPont is +0.39%. The Zacks Consensus Estimate for the first quarter is currently pegged at 65 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: DuPont currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:
Innospec Inc. (IOSP - Free Report) , scheduled to release earnings on May 9, has an Earnings ESP of +2.44% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for IOSP’s earnings for the first quarter is currently pegged at $1.64.
Kinross Gold Corporation (KGC - Free Report) , slated to release earnings on May 7, has an Earnings ESP of +4.49% and carries a Zacks Rank #3 at present.
The consensus mark for KGC’s first-quarter earnings is currently pegged at 6 cents.
Ingevity Corporation (NGVT - Free Report) , scheduled to release first-quarter earnings on May 1, has an Earnings ESP of +39.29%.
The Zacks Consensus Estimate for NGVT's earnings for the first quarter is currently pegged at 37 cents. NGVT currently carries a Zacks Rank #1.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.