Organic sales were down 10 percent driven by 12 percent volume declines offset by 2 percent pricing gains. The year-over-year change in cash from working capital improved over $300 million in the quarter versus the same period last year. Currency was a 2 percent headwind. Earnings Release. Since 1990, our team has delivered some of Australia’s most difficult and significant construction services projects. WILMINGTON, Del., May 5, 2020 - DuPont (NYSE: DD) today announced financial results for the first quarter 2020. As spread of the coronavirus across some of the biggest economies upended global trade, companies are increasingly axing costs and delaying non-essential expenses. Operating EBITDA for the segment was $308 million, a decrease of 17 percent from pro forma operating EBITDA of $373 million in the year-ago period, driven primarily by the impact of the volume and price declines within Mobility Solutions partially offset by raw material tailwinds and favorable product mix. Organic sales were up 8 percent driven by a 9 percent volume gain offset by a 1 percent decline in price. Our Q1 2020 analysis shows that we are above 90% for traceability to mill.” This represents ‘significant progress’ in developing transparent supply chains – and DuPont N&B is striving for 100% traceability to the mill within the next five years. Sales gains were led by Health & Biosciences with high-single digit growth versus the same period last year. DuPont Stock versus S&P 500 Over 2020 Coronavirus/Oil Price War Crisis. Food & Beverage sales were up slightly on an organic basis with improvement in protein solutions driven by increased demand for packaged foods and on-going strength in the plant-based meat category, off-set by continued upstream challenges in the sweeteners supply chain. © 2021 CNBC LLC. PDF HTML. This represents another important milestone towards creating tremendous opportunity for our employees and customers, as well as significant value for our shareholders.”. DuPont (DD) Issues Preliminary Q1 Results, Suspends 2020 View. Adjusted EPS(2) decreased 9 percent to $0.84, compared with pro forma adjusted EPS(2) in the year-ago period of $0.92 primarily driven by the absence of prior year gains of $0.08, nylon headwinds, and a higher tax rate partially offset by a lower share count, lower depreciation and amortization, and lower foreign exchange losses. Nutrition & Biosciences reported net sales of $1.5 billion, up 1 percent from the year-ago period. Sign up for free newsletters and get more CNBC delivered to your inbox. Volume declined 8 percent due to lower auto builds, as global automotive production was down nearly 25 percent versus the year-ago period. This includes optimizing working capital, deferring certain capital expenditures, improving our cost structure, and strengthening our liquidity,” said Lori Koch, DuPont Chief Financial Officer. The company expects adjusted earnings per share of 82-84 cents for first-quarter 2020. First Quarter 2020 Results Net sales totaled $5.2 billion, down 4 percent versus the year-ago period. Zacks Equity Research. Organic sales were up 3 percent with a 2 percent price improvement and a 1 percent volume gain. DuPont de Nemours, Inc. DD recorded a loss (on a reported basis) of 83 cents per share for first-quarter 2020 against earnings of 69 cents per share in the comparable quarter a year ago. Our innovation capabilities are enabling us to rapidly create and deploy new tools in this battle and we will continue to advance those, along with targeted in-kind and financial donations, to provide as many as possible with our solutions.”, “By continuing to invest in our R&D engine across the Company, prioritizing cash generation, further improving our cost structure, and advancing our portfolio rationalization efforts, we delivered first quarter results above our initial expectations in each core segment and positioned ourselves for future growth and profitability.”, “Along with IFF, we remain committed to creating the global leader in high-value ingredients and solutions for Food & Beverage, Home & Personal Care, and Health & Wellness markets,” Breen added. Sales for the first quarter should be $5.0bn-5.1bn, compared with its prior guidance of $5.1bn-5.2bn, the company said at the … DuPont de Nemours, Inc.(DD Quick QuoteDD- Free Report) recorded a loss (on a reported basis) of 83 cents per share for first-quarter 2020 against earnings of 69 cents per share in … (2)   Adjusted EPS, pro forma adjusted EPS, operating EBITDA and pro forma operating EBITDA are non-GAAP measures. DuPont trades for about 17 times estimated 2020 earnings, in line with other chemical companies in the S&P. DuPont recently replaced its CEO and CFO. International Flavors & Fragrances Inc. (IFF) has reported its financial results for Q1 2020, ending March 31, 2020. Earnings were down due to the absence of prior-year gains in the Electronics & … A Division of NBCUniversal. This provides us the flexibility needed to navigate these uncertain times.”, (1)    Closing of transaction with IFF is subject to IFF shareholder approval, regulatory approval and customary closing conditions. DuPont Reports First Quarter 2020 Results, Our Commitment to Racial Equity and Equality, Our Commitment to Advancing Racial Equity and Equality, Military, Law Enforcement & Emergency Response, 1Q20 GAAP EPS from continuing operations of $(0.83); adjusted EPS of $0.84, 1Q20 GAAP Income (Loss) from continuing operations of $(610) million and Operating EBITDA of $1.3 billion, 1Q20 Net Sales of $5.2 billion, down 4 percent; organic sales down 2 percent, Further strengthened liquidity with $1.0 billion revolving credit facility, Issued $2.0 billion bond to refinance debt maturities due in November 2020; replaces the $2.0 billion 364-day delayed-draw facility, Continues to advance separation of Nutrition & Biosciences business in preparation for merger with IFF in 1Q 2021, Implemented initiatives to mitigate the impact of COVID-19 including actions to deliver more than, $500 million of working capital improvement and reducing capital expenditures by ~$500 million versus the prior year, Increased production of Tyvek® garments by more than nine million per month, which is more than double the amount produced for any prior crisis, Launched #TyvekTogether campaign, an initiative to deliver an additional five to six million garments per month through the rapid development of a safe, easier-to-use version of Tyvek® and by enabling others to join DuPont in protecting frontline responders, with free access to our designs and usage instructions, Partnered with Cummins, Inc. to use DuPont filtration technology to help strengthen the supply of N95 respirator masks, Entered into a 364-day $1.0 billion revolving credit facility, replacing the $750 million revolving credit facility that was set to expire in June 2020, Issued $2.0 billion bond offering; the proceeds of which will be used to satisfy debt maturities due in November 2020. 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