Dupont De Nemours, Inc. · NYSE:DD
Dupont De Nemours — Q1 2024 Earnings Presentation
23 slides from Dupont De Nemours's earnings presentation, May 1, 2024
Slide 1: 1Q 2024 Financial Results
1Q 2024 Financial Results May 1, 2024
Slide 2: Non-GAAP Financial Measures
Non-GAAP Financial Measures: Unless otherwise indicated, all financial metrics presented and discussion of results reflect continuing operations only. This communication includes information that does not conform to accounting principles generally accepted in the United States of America (“U.S. GAAP
Slide 3: 1Q 2024 Highlights
1Q 2024 Highlights 1Q 2024 1Q 2023 Actuals Actuals 3% sales decline YoY; channel inventory destocking has bottomed Net Sales $2.9 B $3.0 B in industrial-based end-markets Continued recovery within electronics markets; 11% YoY volume growth in Semiconductor Technologies and mid-single digit volum
Slide 4: Focused on Five Growth Areas
Focused on Five Growth Areas Innovation-based growth aligned with key global macro themes Industrial Next Generation Electronics Water Protection Technologies Automotive % Net Sales1 29% 12% 21% 28% 10% Data centers / AI Healthcare Personal protection Electric/hybrid vehicles Consumer elec
Slide 5: 1Q 2024 Financial Highlights
1Q 2024 Financial Highlights NET SALES ORGANIC OPERATING ADJUSTED OPERATING $2.9 billion SALES EBITDA EPS CASH FLOW -3% -6% $682 million $0.79 / share $493 million › Volume -5% due to continued industrial › Operating EBITDA down 4% YoY as volume declines inventory destocking, partly offset by strong
Slide 6: 1Q 2024 Adjusted EPS Bridge
1Q 2024 Adjusted EPS Bridge Segment Results ($0.05) -6% $0.79 $0.84 ₋ Volume ₊ Share ₋ Interest ₋ Depr(1) repurchases ₊ Lower product costs +$0.06 expense net ($0.02) ₊ Spectrum of interest ₋ Tax rate income ($0.01) ($0.04) ₊ EGL/NCI(1) +$0.01 1Q 2023 Share Other 1Q 2024 Segments Interest, net Below
Slide 7: Electronics & Industrial
Electronics & Industrial 1Q Net Sales Vol (-1%), Price (-1%), Currency (-1%), Portfolio (+8%) +5% $1,365 $ in Millions $1,296 Organic Growth -2% 1Q 2024 YoY Highlights • Organic sales(1) by line of business: • Semiconductor Technologies sales up 10% driven by the start of semiconductor demand recove
Slide 8: Water & Protection
Water & Protection 1Q Net Sales Vol (-10%), Price (0%), Currency (-1%), Portfolio (0%) -11% $ in Millions $1,449 Organic $1,291 Growth- -10% 1Q 2024 YoY Highlights • Organic sales by line of business: 1Q Operating EBITDA • Safety Solutions sales down low-teens on volume declines driven mainly by cha
Slide 9: 2Q and FY 2024 Guidance
2Q and FY 2024 Guidance 2Q 2024 FY 2024 Key Assumptions Continued electronics recovery and expected abatement $12.1 - $12.4 billion of channel inventory destocking in industrial-based Net Sales ~ $3.025 billion (Prior: $11.9 - $12.3 billion) businesses as year progresses Sequential sales and ope
Slide 10: 2024 Sustainability Report Highlights
2024 Sustainability Report Highlights Innovate Protect Empower > 80% Achieved our safest year on record for Achieved significant gains on DEI dimension of our innovation portfolio employee and contractor safety. score on our annual IMPACT survey with value is expected to deliver sustainability value
Slide 11: Appendix
Appendix <OUPONT » %
Slide 12: 1Q 2024 Net Sales Bridge
1Q 2024 Net Sales Bridge Organic Sales -6% Volume -5% Price -1% +4% -1% -2% -10% +1% -3% $3,018 $2,931 In Millions Semiconductor Safety Retained Spectrum acquisition(1) ₋ JPY Technologies Solutions Businesses (E&I) ₋ CNY Interconnect Water Solutions Solutions Industrial Shelter Solutions Solutions P
Slide 13: 2024 Segment Expectations
2024 Segment Expectations Electronics & Water & Industrial Protection Segment • Expected electronics market recovery in 2024, • Continued channel inventory destocking within including improvement in semi fab and PCB industrial-based end-markets, with recovery in Key Drivers utilization rates, and im
Slide 14: Additional Modeling Guidance – Full Year 2024
Additional Modeling Guidance – Full Year 2024 Below-the-line estimates Items included in Operating EBITDA Base Tax Rate 23 – 24% R&D ~$500 million D&A ~$1,190 million, pre-tax Corporate & Other: Depreciation ~$590 million, pre-tax Intangible Amortization ~$600 million, pre-tax - Corporate expenses(2
Slide 15: E&I Line of Business Realignment
E&I Line of Business Realignment Previous Reporting Structure(1) New Reporting Structure(2) + OLED Displays Semiconductor Technologies Semiconductor Technologies - Advanced Packaging ~$1.9 B ~$1.9 B - Semi Silicones Interconnect Solutions + Advanced Packaging Interconnect Solutions ~$1.4 B + Semi &
Slide 16: Innovation Driving Growth – Quarterly Highlights
Innovation Driving Growth – Quarterly Highlights Water Industrial Next-Generation Electronics Protection Technologies Automotive • Introduced Riston® DI1500 to • Developed integrated • Launched Tyvek® Trifecta™, • New Liveo™ Soft Skin • BETAFORCE™ thermal expand market presence in nanofiltration and
Slide 17: Overview
Overview On November 1, 2023, DuPont completed the divestiture of the Delrin® acetal homopolymer (H-POM) business to TJC LP, (the “Delrin® Divestiture”). The results of operations for the three months ended March 31,2023 present the financial results of the Delrin® Divestiture as discontinued operat
Slide 18: Selected Financial Information and Non-GAAP Measures
Selected Financial Information and Non-GAAP Measures 18
Slide 19: Selected Financial Information and Non-GAAP Measures
Selected Financial Information and Non-GAAP Measures 19
Slide 20: Selected Financial Information and Non-GAAP Measures
Selected Financial Information and Non-GAAP Measures 20
Slide 21: Selected Financial Information and Non-GAAP Measures
Selected Financial Information and Non-GAAP Measures 21
Slide 22: Selected Financial Information and Non-GAAP Measures
Selected Financial Information and Non-GAAP Measures 22
Slide 23: DuPont trademarks and investor teach-in replays
E&I line of business (Semiconductor Technologies, Interconnect Solutions and Industrial Solutions) and W&P line of business (Water Solutions, Shelter Solutions and Safety Solutions) investor teach-in sessions are available for replay at www.investors.dupont.com © 2024 DuPont de Nemours, Inc. All rig