DuPont EPS beats by $0.14, beats on revenue

seekingalpha2021-05-04

DuPont : Q1 Non-GAAP EPS of $0.91beats by $0.14; GAAP EPS of $0.89beats by $0.31.Revenue of $3.98B (+8.4% Y/Y)beats by $120M."With a strong start to the year, positive trends continuing in our key end...

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Regina206
2021-05-04
Regina206
Revenue u
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2021-05-04
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chandra
2021-05-04
chandra
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GAAP EPS of $0.89beats by $0.31.Revenue of $3.98B (+8.4% Y/Y)beats by $120M.\"With a strong start to the year, positive trends continuing in our key end...</p>\n\n<a href=\"https://seekingalpha.com/news/3689913-dupont-eps-beats-0_14-beats-on-revenue\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DD","symbol_name":"杜邦","start_time":0,"source_url":"https://seekingalpha.com/news/3689913-dupont-eps-beats-0_14-beats-on-revenue","article_id":"1108768228","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1108768228","pubTimestamp":1620122605,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"DuPont : Q1 Non-GAAP EPS of $0.91beats by $0.14; GAAP EPS of $0.89beats by $0.31.Revenue of $3.98B (","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"DD":"杜邦"},"translate_title":"杜邦EPS超过预期0.14美元，营收超过预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DD":0.9},"content_text":"DuPont : Q1 Non-GAAP EPS of $0.91beats by $0.14; GAAP EPS of $0.89beats by $0.31.Revenue of $3.98B (+8.4% Y/Y)beats by $120M.\"With a strong start to the year, positive trends continuing in our key end-markets and confidence in our team's ability to navigate through global supply constraints, we are raising our guidance for the year for net sales, operating EBITDA and adjusted EPS,\" said Lori Koch, Chief Financial Officer of DuPont. \"For full year 2021, we now estimate net sales to be between $15.7 billion and $15.9 billion and operating EBITDA between $3.98 billion and $4.08 billion. Our outlook for full year adjusted EPS is now in the range of $3.60 to $3.75 per share, an increase of $0.30 per share from our previous estimates.\" Revenue consensus of $15.58B, EPS consensus of $3.48.1Q21 Net Sales of $4.0 billion, up 8 percent; organic sales up 7 percent versus the year-ago period.1Q21 GAAP Income from continuing operations of $541 million; operating EBITDA of $1.05 billion, up 15 percent versus the year-ago period.Earnings leverage of 1.9 times driving operating EBITDA margin expansion of 160 basis points.Approximately $660 million of capital returned to shareholders during the quarter through share repurchases and dividends.Raises full year 2021 guidance for net sales, operating EBITDA and adjusted EPS.DuPont (DFT) (NYSE: DD) today announced financial results for the first quarter 2021.\"As we emerge from the COVID-19 pandemic, the leading positions we hold in semiconductor, smartphones, automotive, water filtration, and residential construction end-markets enabled us to deliver strong first quarter results ahead of expectations with organic sales growth in all three reporting segments,\" saidEd Breen, DuPont Executive Chairman and Chief Executive Officer. \"We delivered these results despite headwinds associated with escalating raw material and logistics costs and global supply constraints of key raw materials. Our teams have worked closely with our suppliers and customers to help mitigate the impact incurred as a result of these industry challenges.\"\"In addition to delivering solid financial results, we advanced a number of strategic priorities,\" Breen continued. \"During the first quarter, we completed the separation of our Nutrition & Biosciences business via a tax-free split and signed agreements to divest our Clean Technologies and Solamet® businesses(2)and expect all three transactions will deliver approximately $8 billion in gross proceeds. Additionally, we announced a definitive agreement to acquire Laird Performance Materials(2)which complements our Electronics & Industrial segment. The planned acquisition of Laird Performance Materials is part of our strategy of growing as a global innovation leader through targeted M&A. We also executed $500 million of share repurchases under our existing program and have approximately $500 million repurchase authorization remaining which we intend to complete by June 1. Also, as previously announced, our Board of Directors authorized a new $1.5 billion share buyback program which expires on June 30, 2022. Finally, we de-levered our balance sheet during the quarter by paying down our $3 billion term loan and we will redeem the $2 billion May 2020 bonds later this month. These actions, combined with our dividend policy, further illustrate our commitment to a balanced capital allocation approach.\"First Quarter 2021 ResultsNet sales totaled $4.0 billion, up 8 percent versus the year-ago period as reported and up 7 percent versus the year-ago period on an organic(1)basis. Sales were up on an as reported and organic basis in all three segments led by double-digit growth in Electronics & Industrial on continued strength in both semiconductors and smartphone technologies, high single-digit organic growth in Mobility & Materials on further recovery in automotive and industrial markets, and strong demand in Water & Protection for water filtration technologies. On a regional basis, organic sales growth was led byAsia Pacificmore than offsetting declines in US &Canadaand EMEA.GAAP EPS from continuing operations totaled $0.89 on GAAP income from continuing operations of $541 million, versus GAAP EPS from continuing operations of $(0.75) on a GAAP loss from continuing operations of $(550) million in the year-ago period. The improvement is attributable to the absence of prior year goodwill and asset impairment charges, significantly less integration and separation costs, a significantly lower share count, higher segment earnings, and a lower tax rate, partially offset by the absence of a prior year gain related to a divestiture.Operating EBITDA(1)was $1.05 billion, up 15 percent versus operating EBITDA(1)in the prior year. Strong demand in Electronics & Industrial and Mobility & Materials as well as benefits from prior year cost initiatives contributed to 160 basis points of operating EBITDA margin expansion and 1.9 times operating EBITDA leverage. Adjusted EPS(1)was $0.91, up 90% versus adjusted EPS(1)in the year-ago period due to a significantly lower share count, higher segment results and benefits associated with a lower base tax rate and lower interest expense.Operating cash flow for the quarter was $378 million and included working capital headwinds of about $300 million led by higher accounts receivable balances on increased sales. Capital expenditures of $283 million resulted in free cash flow(1)of $95 million.During the first quarter 2021, DuPont completed the previously announced separation of its Nutrition & Biosciences business (the \"N&B Business\") in a Reverse Morris Trust transaction, in which Nutrition & Biosciences, Inc. (\"N&B\") was merged with a subsidiary of International Flavors and Fragrances Inc. (\"IFF\"). In connection with closing of the IFF transaction and the related exchange offer, DuPont accepted and retired 197.4 million shares of DuPont common stock.First Quarter 2021 Segment HighlightsElectronics & IndustrialElectronics & Industrial reported a record quarter with net sales of $1.3 billion, up 17 percent from the year-ago period. Organic sales were up 14 percent driven by a 15 percent volume gain offset by a 1 percent decline in price. Currency was a 3 percent tailwind.Volume gains were led by Semiconductor Technologies where new technology ramps in advanced nodes within logic and foundry along with robust demand for memory in servers and data centers delivered double-digit growth versus the year-ago period. Interconnect Solutions also delivered double-digit growth, driven by higher material content in premium, next-generation smartphones. Within Industrial Solutions, double-digit volume gains in display materials and healthcare more than offset continued weakness in aerospace and flexographic printing.Operating EBITDA for the segment was $436 million, an increase of 33 percent from operating EBITDA of $327 million in the year-ago period, driven primarily by strong volume growth and a gain on an asset divestiture.Water & ProtectionWater & Protection reported net sales of $1.3 billion, up 4 percent from the year-ago period. Organic sales were up 1 percent on a 1 percent increase in volume. Currency was a 3 percent tailwind.Sales gains were led by Water Solutions with double-digit volume growth reflecting strong demand for our reverse osmosis and ultrafiltration technologies. Ongoing strength in residential construction and retail channels for do-it-yourself applications resulted in volume growth in Shelter Solutions versus the year-ago period. Within Safety Solutions, strengthening demand for aramid fibers in industrial and automotive end markets was more than offset by continued weakness in aerospace resulting in low-single digit volume declines.Operating EBITDA for the segment totaled $355 million, relatively flat with operating EBITDA of $357 million in the year-ago period as sales gains and cost productivity actions were offset by higher manufacturing and supply chain costs.Mobility & MaterialsMobility & Materials reported net sales of $1.2 billion, up 11 percent from the year-ago period. Organic sales were up 8 percent driven by a 7 percent volume gain and a 1 percent increase in price. Currency was a 3 percent tailwind.Double-digit growth in Performance Resins and Advanced Solutions was attributable to the continued recovery of the global automotive market as well as strong demand for specialty pastes used in consumer electronics. Demand within Engineering Polymers was strong; however, global supply constraints in key raw materials resulted in low-single digit volume declines. We expect to recover this volume as the raw material constraints are alleviated.Operating EBITDA for the segment was $278 million, an increase of 29 percent from operating EBITDA of $215 million in the year-ago period, as higher volumes and savings from productivity actions delivered a 320 basis point improvement in operating EBITDA margins versus the year-ago period.Second Quarter and Full Year 2021 Outlook\"With a strong start to the year, positive trends continuing in our key end-markets and confidence in our team's ability to navigate through global supply constraints, we are raising our guidance for the year for net sales, operating EBITDA and adjusted EPS,\" saidLori Koch, Chief Financial Officer of DuPont. \"For full year 2021, we now estimate net sales to be between $15.7 billion and $15.9 billion and operating EBITDA between $3.98 billion and $4.08 billion. Our outlook for full year adjusted EPS is now in the range of $3.60 to $3.75 per share, an increase of $0.30 per share from our previous estimates.\"\"We also expect similar top-line trends continuing from first quarter into the second quarter coupled with slight escalation in raw materials and logistics costs. We expect second quarter of 2021 results to be up significantly versus the second quarter of last year with net sales estimated between $3.925 billion and $4.025 billion, operating EBITDA between $990 million and $1,010 million, and adjusted EPS between $0.93 and $0.95 per share.\"","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":106284784,"gmtCreate":1620124443448,"gmtModify":1704338960555,"author":{"id":"3570404212450363","authorId":"3570404212450363","name":"Regina206","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3570404212450363","idStr":"3570404212450363"},"htmlText":"Revenue u","listText":"Revenue u","text":"Revenue u","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/106284784","repostId":1108768228,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":106284120,"gmtCreate":1620124388860,"gmtModify":1704338959889,"author":{"id":"3570404212450363","authorId":"3570404212450363","name":"Regina206","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3570404212450363","idStr":"3570404212450363"},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/106284120","repostId":1108768228,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":106215186,"gmtCreate":1620123027645,"gmtModify":1704338946026,"author":{"id":"3578706888157658","authorId":"3578706888157658","name":"chandra","avatar":"https://static.tigerbbs.com/a9aa38a10b67f170337a83ecf01dc8b2","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3578706888157658","idStr":"3578706888157658"},"htmlText":"Please like and comment","listText":"Please like and comment","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/106215186","repostId":1108768228,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4231921,"gmtCreate":1620224741373,"gmtModify":1680787137997,"authorId":3578706888157658,"author":{"id":3578706888157658,"idStr":"3578706888157658","authorId":3578706888157658,"name":"chandra","avatar":"https://static.tigerbbs.com/a9aa38a10b67f170337a83ecf01dc8b2","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":106215186,"type":1,"supId":4219624,"prevId":0,"content":"thanks","text":"thanks","html":"thanks"},{"id":4219624,"gmtCreate":1620129128788,"gmtModify":1680786949701,"authorId":3577578440393201,"author":{"id":3577578440393201,"idStr":"3577578440393201","authorId":3577578440393201,"name":"Ahjennn","avatar":"https://static.tigerbbs.com/6f889035f499e201d659d4e8e4b6671a","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":106215186,"type":1,"supId":0,"prevId":0,"content":"Respond to my comment thx","text":"Respond to my comment thx","html":"Respond to my comment thx"},{"id":4219073,"gmtCreate":1620123053814,"gmtModify":1680786934448,"authorId":3578706888157658,"author":{"id":3578706888157658,"idStr":"3578706888157658","authorId":3578706888157658,"name":"chandra","avatar":"https://static.tigerbbs.com/a9aa38a10b67f170337a83ecf01dc8b2","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":106215186,"type":1,"supId":0,"prevId":0,"content":"thanks","text":"thanks","html":"thanks"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":19,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1108768228"}