Dupont De Nemours, Inc. · NYSE:DD
Dupont De Nemours — Q2 2024 Earnings Presentation
22 slides from Dupont De Nemours's earnings presentation, Jul 31, 2024
Slide 1: 2Q 2024 Financial Results
2Q 2024 Financial Results July 31, 2024
Slide 2: Overview and Forward-Looking Statements
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 and six-months ended June 30,2023 present the financial results of the Delrin® Divestiture as discontinued
Slide 3: 2Q 2024 Highlights
2Q 2024 Highlights 2Q 2024 2Q 2023 Actuals Actuals 2% sales growth YoY with further broad-based electronics market recovery and sequential improvement within all W&P lines of business Strong volume growth in electronics markets; YoY volumes up more Net Sales $3.2 B $3.1 B than 20% in Semiconduct
Slide 4: Progress on Plan to Separate into Three Industry-Leading Companies
Progress on Plan to Separate into Three Industry-Leading Companies New DuPont Electronics Water ~$6.6 B ~$4.0 B ~$1.5 B sales(1) sales(1) sales(1) A Global Leader for Electronics Materials A Diversified Industrial Company with A Comprehensive Water Solutions Provider including Semiconductor Solution
Slide 5: 2Q 2024 Financial Highlights
2Q 2024 Financial Highlights NET SALES ORGANIC OPERATING ADJUSTED OPERATING $3.2 billion SALES EBITDA EPS CASH FLOW +2% Flat $798 million $0.97 / share $527 million › Volume +2%: broad-based growth in electronics › Operating EBITDA up 8% YoY as volume gains, lower partially offset by YoY declines in
Slide 6: 2Q 2024 Adjusted EPS Bridge
2Q 2024 Adjusted EPS Bridge Segment Results +$0.10 +14% $0.97 $0.85 ₊ Volume ₊ Lower product costs ₊ Share ₋ Interest ₋ Tax rate ₊ Restructuring savings repurchases +$0.09 expense net ($0.03) ₊ Spectrum of interest ₋ Depr(1) income ($0.02) ₋ Variable compensation ($0.05) ₊ EGL/NCI(1) +$0.03 2Q 2023
Slide 7: Electronics & Industrial
Electronics & Industrial 2Q Net Sales Vol (+10%), Price (-2%), Currency (-2%), Portfolio (+9%) +15% $1,508 $ in Millions $1,312 Organic Growth +8% 2Q 2024 YoY Highlights • Organic sales(1) by line of business: • Semiconductor Technologies sales up more than 20% driven by continued semiconductor dema
Slide 8: Water & Protection
Water & Protection 2Q Net Sales Vol (-4%), Price (-2%), Currency (-1%), Portfolio (0%) -7% $ in Millions $1,494 $1,391 Organic Growth- -6% 2Q 2024 YoY Highlights • Organic sales by line of business: • Safety Solutions sales down high-single digits on volume declines 2Q Operating EBITDA primarily dri
Slide 9: 3Q and FY 2024 Guidance
3Q and FY 2024 Guidance 3Q 2024 FY 2024 Key Assumptions Demand trends expected to remain strong in $12.4 - $12.5 billion many key end-markets Net Sales ~ $3.2 billion (Prior: $12.1 - $12.4 billion) 3Q’24 assumes a return to YoY organic sales $3.06 - $3.11 billion growth led by E&I; YoY sales and
Slide 10: Appendix
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Slide 11: 2Q 2024 Net Sales Bridge
2Q 2024 Net Sales Bridge Organic Sales Flat Volume +2% Price -2% +8% -6% +4% -2% -5% +2% $3,171 $3,094 In Millions Semiconductor Shelter Retained Technologies Solutions Businesses Spectrum acquisition(1) ₋ JPY (E&I) ₋ CNY Interconnect Water Solutions Solutions Industrial Safety Solutions Solutions P
Slide 12: 2024 Segment Expectations
2024 Segment Expectations Electronics & Water & Industrial Protection Segment • Electronics market demand expected to remain • Water and medical packaging sales lift expected strong in 2H’24 vs. 1H’24 Key Drivers and • 3Q’24 sales expected to be up low teens vs. PY on • 3Q’24 sales expected to be do
Slide 13: Additional Modeling Guidance – Full Year 2024
Additional Modeling Guidance – Full Year 2024 Below-the-line estimates Items included in Operating EBITDA Base Tax Rate ~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 14: Innovation Driving Growth – Quarterly Highlights
Innovation Driving Growth – Quarterly Highlights Water Industrial Next-Generation Electronics Protection Technologies Automotive • Launched new materials for • Increased adoption of the • Launch Tyvek® 400 SFR • Completed acquisition of • BETAFORCE™ thermal advanced OLED displays recently introduced
Slide 15: 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 16: Non-GAAP Financial Measures (continued)
Non-GAAP Financial Measures (continued): Adjusted Free Cash Flow is defined as cash provided by/used for operating activities from continuing operations less capital expenditures and excluding the impact of cash inflows/outflows that are unusual in nature and/or infrequent in occurrence that neither
Slide 17: Selected Financial Information and Non-GAAP Measures
Selected Financial Information and Non-GAAP Measures 17
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: DuPont™, the DuPont Oval Logo, and all products, unless otherwise noted, denoted with ™,
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