Did DuPont de Nemours beat or miss consensus estimates last quarter?

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What is the revenue and EPS growth rate for DuPont de Nemours year over year?

What guidance did DuPont de Nemours's management provide for the next earnings period?

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What were the key takeaways from DuPont de Nemours’s earnings call?

What factors drove the changes in DuPont de Nemours's revenue and profit?

- **2025 Results**: 2% organic growth, 6% EBITDA expansion, $1.68 EPS (16% YoY). 
- **2026 Outlook**: 3% organic growth, 60-80bps margin expansion, $2.25-$2.30 EPS. 
- **Innovation Impact**: $2B new product sales (30% vitality index), 125+ new products launched. 
- **Aerospace Recovery**: Orders up low double-digits, driving Industrial Technologies growth. 
- **Capital Deployment**: $1.1B divestiture proceeds for M&A and buybacks; $2B share repurchase authorization.

**【CEO Summary Section】**
- Full-year 2025 organic sales growth of 2%, operating EBITDA up 6%, and adjusted EPS of $1.68 (16% YoY increase). 
- 2026 strategic priorities: 3% organic sales growth, 60-80bps margin expansion, and $2.25-$2.30 EPS target.
- Innovation engine drove $2B in new product sales (30% vitality index), with 125+ new products launched in 2025.
- Aerospace orders up low double-digits, offsetting construction market weakness.
- $1.1B net proceeds from Aramids divestiture to be used for M&A and share buybacks.

**【CFO Financial Commentary】**
- Q4 2025: Net sales $1.7B, operating EBITDA $409M (4% YoY), adjusted EPS $0.46 (18% YoY). 
- 2026 guidance: $7.1B net sales, $1.74B operating EBITDA, and $2.25-$2.30 EPS (35% YoY growth).
- Healthcare & Water segment expected mid-single-digit growth; Diversified Industrials low single-digit growth.
- Free cash flow conversion >90% in 2026.

**【Q&A Highlights】**
- **Industrial Recovery**: Aerospace orders up low double-digits, offsetting printing/packaging weakness. Industrial Technologies expects low single-digit growth.
- **Construction Markets**: U.S. shelter business flat in 2026 after mid-single-digit decline in 2025. Europe and Asia stabilization expected.
- **Inflation**: No significant raw material cost headwinds; gross margin improvement expected from productivity.
- **Capital Allocation**: $500M ASR completed in Q4; $2B share repurchase authorization announced. M&A focus on healthcare and water solutions.
- **Segment Performance**: Healthcare & Water EBITDA margin 31.1%; Diversified Industrials margin 22.6% (110bps YoY expansion).

DuPont de Nemours, Inc. (DD) Q4 2025 Earnings Call Transcript

- **2026 Organic Growth Target**: 3-4% with healthcare/water outperforming at 5%. 
- **Balance Sheet Strength**: $1B cash, 1.7x net debt/EBITDA. 
- **M&A Focus**: Healthcare CDMO and water filtration. 
- **Margin Expansion**: 150-200bp over 3 years. 
- **China Water Expansion**: Local RO capacity added. 
- **Construction Market**: Q4 flat, 2026 Shelter -3% to -4%. 
- **GICS Reclassification**: 10-K filing to reflect new portfolio.

**【CEO Summary Section】**
- Organic sales growth of 2% year-over-year, driven by healthcare and water businesses. Q3 revenue of $3.1 billion, with healthcare and water contributing 50% of total sales. 
- Targeting 3-4% organic growth in 2026, with healthcare and water expected to outperform diversified industrials. 
- Completed $2 billion share repurchase authorization and $500 million ASR to reduce leverage. 
- New leadership appointed for healthcare business to accelerate growth in medical packaging and biopharma. 

**【CFO Financial Commentary】**
- Q3 GAAP net income of $420 million, Non-GAAP EPS of $1.08 (vs. $1.02 consensus). 
- Operating EBITDA margin of 25.6%, up 30 basis points YoY. 
- Full year 2025 guidance raised to $1.6 billion operating EBITDA and $2.02 EPS. 
- 2026 capital allocation focused on M&A in healthcare and water. 

**【Q&A Key Highlights】**
- Balance sheet strength ($1 billion cash, 1.7x net debt/EBITDA). 
- 2026 M&A pipeline prioritizing healthcare CDMO and water filtration. 
- Construction market expected to remain flat in Q4. 
- Targeting 150-200 basis points margin expansion over 3 years. 
- GICS reclassification progress with 10-K filing to reflect new portfolio. 
- China RO acquisition to support local demand in Asia. 
- 2026 Shelter business expected to be down 3-4% YoY. 
- 2026 Industrial Technologies segment targeting low single-digit growth.

DuPont de Nemours, Inc. (DD) Q3 2025 Earnings Call Transcript

- **Q2 Strong Performance**: $3.3B sales (+2% organic), EBITDA $859M (+8%), EPS $1.12 (+15%). Full year guidance raised to EBITDA $3.36B, EPS $4.40.
- **Electronics Growth**: AI-driven Interconnect Solutions (+high single digits), semi (+mid-single digits). China sales 30% of ElectronicsCo, aligned with industry.
- **Healthcare Recovery**: High single-digit growth, decoupling from destocking. Focus on M&A to expand 40% of portfolio.
- **Settlement & Tariffs**: $177M 25-year PFAS settlement (<1% for AFFF). Tariffs headwind reduced to $20M via supply chain moves.
- **Qnity Spin-Off**: On track for Nov 1, 2025. New DuPont focuses on healthcare, water, and advanced materials.

**【CEO Summary Section】**
- Q2 2025 sales of $3.3 billion (+2% organic), driven by 8% volume growth in Electronics and 7% growth in Healthcare & Water. Operating EBITDA of $859M (+8% YoY), margin 26.4% (+120bps). Adjusted EPS $1.12 (+15% YoY). Full year guidance raised: operating EBITDA $3.36B, EPS $4.40.
- Electronics strength from AI demand in Interconnect Solutions (+high single digits) and semi (+mid-single digits). Healthcare & Water up high single digits, offsetting weakness in diversified industrials.
- Announced $177M (NPV) 25-year settlement with NJ for PFAS claims, including <1% for AFFF. Qnity Electronics spin-off on track for Nov 1, 2025. New DuPont to focus on healthcare, water, and advanced materials.

**【CFO Financial Commentary】**
- Q2 net sales $3.3B (+3% YoY). ElectronicsCo $1.2B (+6% YoY), driven by semi (+mid-single digits) and Interconnect Solutions (+high single digits). IndustrialsCo $2.1B (+1% YoY), with Healthcare & Water up high single digits, offset by construction weakness.
- Operating EBITDA $859M (+8% YoY). Free cash flow $433M (93% conversion). Full year guidance: net sales $12.85B, EBITDA $3.36B, EPS $4.40. Q3 guidance: sales $3.32B, EBITDA $875M, EPS $1.15. Tariffs headwind $20M ($0.04 EPS) in H2.

**【Q&A Key Highlights】**
- **Industrials Pricing**: 2% price decline in Q2 due to raw material cost normalization, expected to stabilize. Supply chain moves offset $60M tariff impact to $20M net headwind.
- **PFAS Settlement**: AFFF contribution <1% of total $177M, aligning with 3-7% industry benchmark. Future settlements likely structured with long-term payments.
- **Electronics Growth**: 35% of semi sales in advanced nodes, AI-driven data center growth (+>20% Q2). China sales 30% of ElectronicsCo, normalized to industry levels.
- **Healthcare Trends**: Decoupling from destocking, strong demand in med device and biopharma. No impact from Medicaid/Medicare reimbursement changes.
- **Tariff Mitigation**: 90% via supply chain adjustments, minimal surcharges. Monitor 90-day pause on China tariffs, potential EU/India changes.


DuPont de Nemours, Inc. (DD) Q2 2025 Earnings Call Transcript

- **Q1 Strong Performance**: 6% organic sales growth, 16% EBITDA rise, and 30% EPS beat, driven by electronics and healthcare.
- **Tariff Mitigation Success**: Reduced 2025 impact to $60M via supply chain adjustments, minimizing tariff exposure.
- **AI & Semi Growth**: 15% revenue from data centers, 26% EBITDA growth in advanced packaging, with AI-driven packaging share gains.
- **China Electronics Resilience**: 70%+ sales specked into fabs, offsetting macro softness in construction and auto.
- **Qnity Separation**: On track for Nov 2025, with Qnity targeting 60%+ semi exposure and RemainCo focusing on healthcare/water growth.

**【CEO Opening Remarks】**
- Q1 2025 organic sales grew 6%, driven by 8% volume growth across electronics, healthcare, and water segments. Operating EBITDA of $788M rose 16% YoY, with margin expanding 240bps to 25.7%.
- Electronics business (Qnity) separation on track for November 2025, with key milestones including leadership appointments, Board composition, and SEC filing completion.
- Tariff mitigation efforts reduced estimated 2025 cost impact to $60M (from $500M), primarily affecting H2.

**【CFO Financial Highlights】**
- Q1 net sales $3.1B (+5% YoY), with ElectronicsCo up 14% and IndustrialsCo flat. Adjusted EPS $1.03 (+30% YoY).
- ElectronicsCo EBITDA $373M (+26% YoY), driven by semiconductor and AI applications. IndustrialsCo EBITDA $464M (+6% YoY), supported by healthcare and water growth.
- 2025 guidance maintained: $12.8-12.9B net sales, $3.325-3.375B EBITDA, $4.30-4.40 EPS. Tariff impact of $0.10/share in H2.

**【Q&A Key Takeaways】**
- **Tariff Mitigation**: 90% of $500M exposure offset via supply chain shifts, with $60M net impact in H2. Minimal need for product exemptions; <1% of COGS affected.
- **China Market**: Electronics demand strong, with 70%+ sales specked into fabs. Semi sales flat YoY due to normalization, but AI-driven packaging growth continues.
- **AI Growth**: 15% of revenue from data centers, up mid-teens Q1. Advanced packaging EBITDA up 26%, with share gains in thermal and interconnect materials.
- **Water & Healthcare**: Water sales +20% in China, driven by RO and ion exchange. Healthcare up mid-teens, benefiting from med device demand.
- **Spin-Off Strategy**: Qnity positioned as pure-play semiconductor materials leader, targeting 60%+ semi exposure. RemainCo focuses on high-growth healthcare and water.


DuPont de Nemours (DD)-2 May 25-2025 Q1 Earnings call transcript

- **Q4 2024 Strong Finish**: 7% revenue growth, 30% EPS increase, and 26.1% EBITDA margin highlight record performance.
- **2025 Growth Targets**: Mid-single-digit organic growth for both Electronics ($6-7B) and Industrial ($5.8-5.9B) co-segments.
- **AI & Semi Leadership**: $300M+ AI-related revenue in 2024; 6-7% semi growth in 2025 driven by advanced nodes.
- **Water & Healthcare Acceleration**: 11% YoY growth in China water; 3-4% organic growth for Industrial co's healthcare/water portfolio.
- **Spinoff Progress**: $700M separation costs, with $40M ongoing dissynergies; Electronics spin on track for November 2025.


**【CEO Summary Section】**
- Q4 2024 revenue grew 7% YoY to $3.1B, driven by 8% volume growth and double-digit organic growth in E&amp;I (10%) and W&amp;P (6%).
- Operating EBITDA of $807M (+13% YoY) with margin expansion to 26.1% (vs. 24.7% prior year).
- Adjusted EPS of $1.13 (+30% YoY) due to higher segment earnings and lower tax rate.
- 2025 guidance: $12.8B-$12.9B net sales, $3.325B-$3.375B operating EBITDA, and $4.30-$4.40 EPS.
- Targeting mid-single-digit organic growth for both new Electronics and Industrial co-segments.
- Electronics spinoff planned for November 1, 2025, with $300M+ AI-related revenue in 2024.

**【CFO Financial Commentary】**
- Q4 2024 cash flow: $564M from operations, $161M CapEx, and $52M transaction costs, resulting in $455M free cash flow (96% conversion).
- 2024 full-year free cash flow of $1.8B (105% conversion).
- 2025 transaction costs expected to be ~$700M, with ~$40M in ongoing dissynergies post-separation.
- Water and healthcare businesses to comprise ~40% of Industrial co-segment, targeting mid-single-digit organic growth.

**【Q&A Highlights】**
- **AI & Semi Growth**: AI-related revenue up 30% YoY to $300M+; 2025 semi sales in China expected flat vs. 2024, but overall semi growth 6-7%.
- **Water Recovery**: Sequential growth of 4% Q4 vs. Q3, 11% YoY in China; 2025 organic growth 3-4%.
- **Separation Costs**: Total separation costs ~$700M, reduced to ~$40M ongoing dissynergies.
- **Cash Deployment**: No buybacks until 7 months post-separation; focus on M&amp;A in healthcare and water.
- **Margin Outlook**: 2025 EBITDA margin expansion for both co-segments, with Industrial co at ~23-24%.


Actual											0.3513	0.2928	0.3681	0.3973	0.3806	0.4726	0.481	0.4517	0.343	0.3681	0.343	0.3722	0.3513	0.3555	0.3848	0.3639	0.3304	0.4057	0.4935	0.4726	0.4308	0.4684	1.09	0.46
Forecast											0.3073	0.25	0.3117	0.357	0.3136	0.3948	0.4672	0.4151	0.2793	0.3142	0.3333	0.3268	0.3337	0.3478	0.3528	0.355	0.2705	0.3567	0.4303	0.4098	0.3993	0.445	0.4656	0.4305
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+14.32%	+17.12%	+18.09%	+11.29%	+21.36%	+19.71%	+2.95%	+8.82%	+22.81%	+17.15%	+2.91%	+13.89%	+5.27%	+2.21%	+9.07%	+2.51%	+22.14%	+13.74%	+14.69%	+15.32%	+7.89%	+5.26%	+134.11%	+6.85%

DD

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DD Q4 2025 Earnings

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DD

DD fundamentals

DD Q4 2025 Earnings

Earnings Call

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DD Earnings Call Summary for Q4/20248:00 AM on Feb 11, 2025

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