China sales in our core segments improved 14 percent versus the third quarter 2019 and 10 percent sequentially from second quarter 2020. If so, that would be a serious breach of public trust. Add to Apple Calendar (opens in new window) The final three recipients have been announced in MSA’s and DuPont’s 2020 Globe Gear Giveaway. Organic sales were up 8 percent driven by a 9 percent growth in volume offset by a 1 percent decline in price. PFAS discharged over the past 50 years by companies like DuPont and 3M – which knew it was dangerous as early as the 1950s – will stay in the environment until it’s actively remediated. PFOA and other PFAS are called “forever chemicals” because they never break down in the environment. In millions (Unaudited) Six Months Ended June 30, 2020. Investors can access information included on the Investor Relations section of the website at www.investors.dupont.com. Currency was neutral. DuPont spokesman Dan Turner had this response: “In July 2015, DuPont separated its Performance Chemicals segment creating Chemours, now a fully independent performance chemical manufacturer. October 29, 2020 08:00 AM ET. Transportation & Industrial reported net sales of $1.0 billion, down 14 percent from the year-ago period. DuPont de Nemours, Inc. Consolidated Statement of Cash Flows. Price, currency and portfolio impacts were each neutral versus third quarter 2019. “This commitment is evident in the results we announced today. The Big Bang of the nationwide “forever chemicals” crisis was the revelation in 2001 that PFOA, a toxic compound used to make Teflon, had contaminated the drinking water for 70,000 people near a DuPont factory in West Virginia. DuPontTM and all products, unless otherwise noted, denoted with TM, SM or ® are trademarks, service marks or registered trademarks of affiliates of DuPont de Nemours, Inc. © 2020 DuPont. News provided by. Nutrition & Biosciences reported net sales of $1.5 billion, down 4 percent from the year-ago period on both an as reported and organic basis driven by lower volumes. Organic sales were down 14 percent with volume down 9 percent and price lower by 5 percent. Last week, Rep. Harley Rouda (D-Calif.), who chairs the Environment Subcommittee of the House Committee on Oversight and Reform, sent a letter to DuPont and Chemours asking why they’re still discharging a highly toxic substance they claim not to have used in years. Rouda asked about the discharges because both companies have said publicly they no longer use PFOA. Currency was neutral. As reported last year by Sharon Lerner of The Intercept, the EPA has allowed more than 40 new PFAS chemicals on the market reported to pose “substantial risk.”. DuPont said it expects fourth quarter adjusted EPS to be in the range of $0.93 to $0.95 on net sales of approximately $5.25 billion.For full year 2020, the company anticipates adjusted EPS to be in the range of $3.34 to $3.36 on net sales of approximately $20.40 billion. New research from DuPont reveals huge demand for meat alternatives from consumers in key Asia markets. “Our team remains committed to emphasizing the safety and well-being of our employees, prioritizing the needs of our customers, and executing on a playbook that enables us to quickly respond to the changing environment” said Ed Breen, DuPont Executive Chairman and Chief Executive Officer. For decades, DuPont dumped PFAS into the Ohio River in West Virginia, killing farm animals and poisoning the water of surrounding communities. McLaren Beverly Hills is proud to present this 2020 McLaren 620R Coupe in White and Black McLaren Beverly Hills is part of O'Gara Coach Company, the … DuPont Dec 31, 2020, 16:15 ET. A replay of the webcast also will be available on the DuPont’s Investor Relations Events and Presentations page following the live event. GAAP EPS from continuing operations totaled $(0.11) on a GAAP loss from continuing operations of $(72) million, versus GAAP EPS from continuing operations of $0.49 on GAAP income from continuing operations of $372 million in the year-ago period. Contact Information; Home > Investors > DuPont Investors - Starting June 1, 2019 > Events & Presentations > Event Details. Net (loss) income Paperwork from years of reports, letters from Chemours, and personal research in Robin Andrews' house in Pedricktown, N.J., on Feb. 22, 2020. Sales gains were led by Semiconductor Technologies as new technology ramps across logic and foundry delivered high-single digit organic growth versus the year-ago period. (1)   Closing of transaction with IFF is subject to regulatory approval and customary closing conditions. Share this article. Only five states have placed limits on a handful of PFAS, and the EPA has the ability to test for only 29 PFAS in drinking water. Donate, The latest from EWG’s staff of experts >>. The impact of COVID-19 on other key industrial markets, in addition to automotive, contributed to volume declines across Mobility Solutions, Industrial & Consumer, and Healthcare & Specialty. Continued broad-based demand across Water Solutions was more than offset by declines in both Safety Solutions and Shelter Solutions. Without aggressive action, PFAS chemicals will continue polluting people and the planet for centuries to come. Adjusted EPS(2) decreased 8 percent to $0.88, compared with adjusted EPS(2) in the year-ago period of $0.96, primarily driven by lower segment results and a higher base tax rate partially offset by declines in interest expense, foreign exchange losses, and share count. Operating cash flow of $1.3 billion included improvements in working capital of more than $300 million in the quarter which was driven by lower inventories. Operating Activities. And some companies that are not subject to those agreements have admitted they still use PFOA. Safety & Construction reported net sales of $1.2 billion, down 6 percent from the year-ago period. Contact Us | Privacy Policy | Legal Disclaimer | Reprint Permission Information SINGAPORE, Dec. 16, 2020 – DuPont Nutrition & Biosciences (NYSE: DuPont) and IPSOS, a global market research firm published a new research study that shows a significant increase in demand for plant-based meat alternatives in key Asia Pacific (APAC) markets. The contamination in Parkersburg and subsequent lawsuit were the subject of an acclaimed feature film released last year. “With a continued focus on execution, we anticipate a fourth quarter underscored by additional cash generation and operating leverage across our core segments driven by additional cost savings,” said Lori Koch, Chief Financial Officer of DuPont. Strong demand for differentiated, high performance seals in semiconductor manufacturing lifted Kalrez® revenues high-teens percent. US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. • Executive committee named - Also in May, DuPont and IFF announced the executive committee of the future combined company, which will include key senior leaders from DuPont Nutrition & … (2)   Adjusted EPS, operating EBITDA and free cash flow are non-GAAP measures. The sale of the trichlorosilane business and the Hemlock Semiconductor joint venture provided $550 million of additional pre-tax cash proceeds in the quarter. 2019. Net sales totaled $5.1 billion, down 6 percent versus the year-ago period on both an as reported and organic basis. Environmental Working Group is a 501(c)(3) nonprofit corporation, EIN 52-2148600. Very small doses of PFOA and some other PFAS have been linked to kidney and testicular cancer, thyroid issues, high cholesterol, reproductive and developmental harms and reduced effectiveness of vaccines. DuPont currently employs about 54,000 people, including 7,000 in Delaware. The Centers for Disease Control and Prevention says these chemicals pollute the bodies of virtually all Americans, including newborn babies. Home. Rouda’s letter asks DuPont about its ongoing PFOA discharges at its Circleville Works plant, in Ohio, and Chemours about its Washington Works facility, in Parkersburg, W.V., the most notorious PFAS contamination site in the world. DuPont Launches Split-Off Exchange Offer for its Nutrition and Biosciences Business and Announces Record Date for Expected Clean-Up Spin-Off in Connection with IFF Transaction December 31, 2020 DuPont Board of Directors Approves the Separation of DuPont's Nutrition & Biosciences Business through an Exchange Offer December 18, 2020 And unlike PCBs, which were banned and subject to cleanup regulations, PFAS remain largely unregulated. Facebook Twitter Amazon Youtube Instagram Pinterest RSS Sign Up! The ongoing cleanup of another group of forever chemicals, polychlorinated biphenyls, or PCBs, underscores the gravity and longevity of the PFAS problem. The absence of a prior year gain on the sale of DuPont Sustainable Solutions, lower volumes and the impact of the trichlorosilane and Hemlock Semiconductor divestitures in September 2020 more than offset cost productivity. DuPont Dec 18, 2020, 06:00 ET. Pharma Solutions sales were flat with the prior year. They were widely used for a myriad of industrial purposes, until they were banned as a class by Congress, in 1976. Track elected officials, research health conditions, and find news … Within Safety Solutions, demand for Tyvek® protective garments remained strong but was more than offset by soft demand for aramid fibers across aerospace, oil & gas and select industrial markets as a result of COVID-19. Organic sales were down 9 percent with a 1 percent price improvement offset by a 10 percent decline in volume. Sarkis Mazmanian Lab Homepage / In The News In The News November 12, 2020. Or “legacy” PFOA remaining in water used at the facilities could be showing up – an alarming reminder of the chemical’s persistence in the environment. Continued productivity actions and favorable product mix more than offset the impact of lower volumes leading to a 260 basis point improvement in operating EBITDA margins versus the year-ago period. The slide presentation that accompanies the conference call will be posted on the DuPont’s Investor Relations Events and Presentations page. Chemours owns all sites that were part of the Performance Chemicals business, including Fayetteville, NC and Washington Works, WV.” Currency and portfolio impacts were both neutral versus third quarter 2019. Pressure from the Environmental Protection Agency forced DuPont and other companies to phase out PFOA, and they agreed not to use it … WILMINGTON, Del., October 29, 2020 - DuPont (NYSE: DD) today announced financial results for the third quarter 2020. The absence of a prior year gain on the sale of DuPont Sustainable Solutions, lower volumes and the impact of the trichlorosilane and Hemlock Semiconductor divestitures in September 2020 more than offset cost productivity. And there may be still more contamination: A 2015 study found that PCBs could be leaching from building materials in nearly 26,000 schools. Proceeds from these sales as well as organic cashflow generation enabled a reduction in commercial paper balances to less than $400 million as of September 30, 2020; a reduction of $1.2 billion in the quarter. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, health and wellness, food and worker safety. DuPont Inc. secured $3 billion in financing to help it ride out the coronavirus that has decimated demand in the automotive industry and other end markets. Even if the ongoing discharges in Ohio and West Virginia can be attributed to legacy discharges, that’s little comfort. So why are DuPont and its spinoff company Chemours still discharging PFOA from their facilities? Within Image Solutions, mid single-digit organic growth was led by strength in OLEDs for displays and ink for the consumer segment, partially offset by weakness in flexographic plates and textile inks. DuPont trades for about 17 times estimated 2020 earnings, in line with other chemical companies in the S&P. WILMINGTON, Del., October 29, 2020 - DuPont (NYSE: DD) today announced financial results for the third quarter 2020. We delivered strong performance demonstrating the value our market-leading innovation and technology provides in key end-markets such as semiconductors, smartphones, water filtration, probiotics, and personal protective equipment. Interconnect Solutions organic sales also increased high-single digits, despite an overall decline in the global smartphone market, driven by higher material content in premium, next-generation smartphones. You will be signed out from all sessions. On a regional basis, organic sales increased 3 percent in Asia Pacific versus the year-ago period while the U.S. and Canada declined 10 percent, EMEA declined 15 percent, and Latin America declined 3 percent. “Execution of these Non-Core divestitures and the continued progress towards the anticipated closing of the Nutrition & Biosciences transaction(1) in the first quarter 2021 exemplify our commitment to create both market-leading businesses and value for our shareholders.”. The IFF shareholder meeting is set to take place on August 27, 2020. Non-Core reported net sales of $331 million, down 23 percent from the year-ago period. The EPA has identified just over 200 PCBs, and there are far more PFAS chemicals. Operating EBITDA for the segment was $379 million, an increase of 7 percent from operating EBITDA of $354 million in the year-ago period. Although a significant improvement versus second quarter performance the global auto market continues its recovery from steep declines in the first half of the year. All rights reserved. If they have misled the public about ongoing use of this toxic chemical, they should be held accountable. DuPont Nutrition & Biosciences Honors Dr. Sarkis Mazmanian for Human Microbiome Research October 13, 2020. CNN won a 2020 duPont Award for its coverage of the disappearance of Jamal Khashoggi, the late Washington Post columnist was brutally murdered in October 2018 at the Saudi Consulate in Turkey. Operating EBITDA for the segment was $242 million, a decrease of 21 percent from operating EBITDA of $306 million in the year-ago period, as savings from productivity actions were more than offset by volume declines, lower price, and the impact of temporarily idled facilities. Similarly, within Shelter Solutions, growth in residential construction and retail channels for do-it-yourself applications was more than offset by weak commercial construction. News provided by. PFOA is the most notorious of the thousands of fluorinated chemicals known as PFAS, which have contaminated drinking water for an estimated 200 million-plus Americans. The Company will host a live webcast of its third quarter earnings conference call with investors to discuss its results and business outlook today at 8:00 a.m. Operating EBITDA for the segment was $14 million, a decrease of 85 percent from operating EBITDA of $94 million in the year-ago period. DuPont de Nemours Inc., fresh off a $26.2 billion deal to offload its nutrition business, is weighing a divestiture of its electronics unit, … Continued productivity actions as well as favorable product mix was more than offset by lower volumes and the impact of temporarily idled facilities. There are no federally enforceable limits on any PFAS in drinking water, groundwater or soils, or any requirements to clean up PFAS under the federal Superfund law. In response, Lowe’s and DuPont teamed up to support businesses that are transforming their operations to help supply … Operating EBITDA for the segment totaled $324 million, a decrease of 8 percent from operating EBITDA of $352 million in the year-ago period. DuPont (NYSE: DD) is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. The impact of lower demand, cost associated with idled facilities, and portfolio changes more than offset manufacturing productivity gains, approximately $150 million of non-manufacturing cost savings and strong demand in semiconductors, smartphones, water, Tyvek® protective garments, and health & wellness. Confirm Signout. In millions (Unaudited) Nine Months Ended September 30, 2020. WILMINGTON, Del., May 5, 2020 - DuPont (NYSE: DD) today announced financial results for the first quarter 2020. The EPA’s most recent update of its CompTox database identified more than 9,000 different compounds related to PFAS. History shows that even decades after being banned, some chemicals’ ongoing impact continues to be deeply harmful to health and the environment. More information about the company, its businesses and solutions can be found at www.dupont.com. Even if DuPont and Chemours are being honest with regulators about their use of PFOA, we should be alarmed at its continued presence in discharges as legacy contamination, because it underscores how merely ending the use of a toxic substance like PFOA will not make the contamination disappear. Congress must take decisive action to address the PFAS problem, including: DuPont and Chemours must respond quickly to Rouda’s inquiry and account for their ongoing discharges of PFOA. “We expect to deliver full-year 2020 adjusted EPS(2) in the range of $3.17 to $3.21 on net sales of $20.1 billion to $20.2 billion.”. Reconciliation to the most directly comparable GAAP measure, including details of significant items begins on page 13 of this communication. Operating Activities Share this article. The Parkersburg facility was owned by DuPont until it spun off its chemical division into Chemours, in 2015. The September 2019 divestiture of the DuPont Sustainable Solutions business and the September 2020 divestiture of the trichlorosilane business reduced sales by 10 percent. ... DuPont 3Q 2020 Earnings. DuPont Reports Third Quarter 2020 Results, Military, Law Enforcement & Emergency Response, 3Q20 GAAP EPS from continuing operations of $(0.11); adjusted EPS of $0.88, 3Q20 Net Sales of $5.1 billion, down 6 percent; organic sales down 6 percent, 3Q20 GAAP Loss from continuing operations of $(72) million and Operating EBITDA of $1.3 billion, $150 million in non-manufacturing costs savings in the quarter; approximately two-thirds structural, Increased 2020 cost savings from current year actions from $180 million to $280 million, Operating cash flow of $1.3 billion; $1.1 billion free cash flow in the quarter, Significant progress on divestitures of Non-Core businesses with sale of Trichlorosilane business and equity stake in Hemlock Semiconductor JV announced in September for $725 million; agreement to sell Biomaterials signed in October 2020 for $240 million, Intended merger of Nutrition & Biosciences business with IFF received shareholder approval; transaction continues to be on-track for a 1Q 2021 closing. It underscores how even if industry stops using PFOA or other PFAS chemicals, they will be with us for a long time – and that as we try to get rid of the PFOA in the environment, it’s being replaced with newer kinds of PFAS that are less studied and, research shows, potentially as dangerous, with many of the same toxicity concerns as old PFAS chemicals. Bioethanol Market 2020-2024- Archer Daniels Midland Co., BP Plc, DuPont de Nemours Inc., Among Others to Contribute to the Market Growth | Technavio - … DuPont, Chemours Reach Agreement Over 'Forever Chemicals' DOVER, Del. Legal Disclaimer updated April 2016 | Privacy Policy updated October 2019. A continued focus on cost control enabled operating EBITDA declines in-line with the decline in net sales on a percentage basis. For example, daily monitoring updates for the Parkersburg site reported 323.5 pounds of PFOA discharged in 2019. DuPont Oct 01, 2020, 09:00 ET. Currency was neutral and portfolio was a 1 percent headwind. July 1, 2020 As the COVID-19 outbreak expands, the supply of personal protective equipment (PPE) continues to be stressed. Operating EBITDA for the segment was $357 million, an increase of 12 percent from operating EBITDA of $320 million in the year-ago period, driven primarily by strong volume growth and continued productivity actions. DuPont.com News & Media; Contact. Delaware’s Supreme Court has upheld a judge’s dismissal of a lawsuit alleging that the DuPont Co. massively downplayed the cost of environmental liabilities imposed on spinoff company Chemours. Article: EWG News Roundup (1/22): Toxic Pesticides That President Biden Should Target, EPA Takes Initial Steps To Regulate PFAS and More, News Release: DuPont, Chemours and Corteva Reach $4 Billion Settlement on ‘Forever Chemicals’ Lawsuits, News Release: EWG Applauds Biden’s Nomination of Richard Glick To Chair Federal Energy Regulatory Commission, Article: What the Biden Administration Should Do To Protect Children From Toxic Pesticides, Designating PFAS hazardous substances under our Superfund law, Setting health-protective limits on PFAS in drinking water, Limiting discharges of PFAS into the air and water, Placing a moratorium on the introduction of new PFAS chemicals, Funding cleanup and drinking water treatment. News provided by. Pressure from the Environmental Protection Agency forced DuPont and other companies to phase out PFOA, and they agreed not to use it after 2015. The company has previously said it plans to cut 10% of its workforce. DuPont pegged the maximum liability for those cases at $128 million. Growth in Electronics & Imaging was more than offset by sales declines in the other segments primarily due to the impact of the global pandemic. DuPont: Strong Total Return OutlookDuPont de Nemours (DD) is the product of a very long list of mergers and spin-offs that have occurred over the years with what used to be the legacy Dow DuPont. Regulators are reviewing the proposed merger between DuPont and Dow Chemical, which would create the world's biggest chemical and materials company, valued at about $130 billion. Chemours claims it has “never made or used PFOA.” Yet data from the EPA’s Enforcement and Compliance History Online database shows ongoing discharges from both the Circleville and Parkersburg facilities. Cancel Sign Out ET. Electronics & Imaging reported a record quarter with net sales of $1.0 billion, up 7 percent from the year-ago period. Roshni Khatri / for NBC News. But there are other possible explanations for these discharges. Just this summer, Bayer, which acquired Monsanto in 2018, agreed to pay $650 million to 2,500 cities, counties and ports to clean up PCB contamination. The EPA has reported that at least 600 PFAS are being used in commerce. Operating EBITDA(2) was $1.3 billion, down 7 percent versus operating EBITDA(2) in the prior year. to International Flavors & Fragrances (IFF) to form a new combined business that will be more than half owned by DuPont shareholders. PCBs were manufactured by Monsanto beginning in 1929 and are linked to various health harms, including cancer, reproductive harms and immune effects. The challenge of cleaning up PCBs pales in comparison to the coming PFAS crisis. The White River (ON, Canada) Fire Department, New Baltimore Volunteer Fire and Rescue Company (Warrenton, VA), and the Central Hardin Fire Department (Elizabethtown, KY) will each receive four sets of state-of-the-art turnout gear and four helmets to increase the … Capital expenditures of approximately $200 million resulted in free cash flow(2) of $1.1 billion. DuPont de Nemours, Inc. Consolidated Statement of Cash Flows. Manufacturers have agreed to phaseouts of only a handful. See page 7 for further discussion. Get the latest DuPont de Nemours, Inc. (DD) stock news and headlines to help you in your trading and investing decisions. Acquisitions in the Water Solutions business increased reported sales by 3 percent. DuPont™, the DuPont Oval Logo, and all trademarks and service marks denoted with ™, ℠ or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted. DuPont will announce its financial results for the fourth quarter and full year ended December 31, 2020, on February 9, 2021.The Company will host a … Share this article. But 44 years later, PCBs remain prevalent in the environment. The Big Bang of the nationwide “forever chemicals” crisis was the revelation in 2001 that PFOA, a toxic compound used to make Teflon, had contaminated the drinking water for 70,000 people near a DuPont factory in West Virginia. For the full year, DuPont expects adjusted earnings between $3.70 and $3.90 per share on revenue between $21.5 billion and $22 billion. 2019. Volume declined 9 percent due to lower auto builds. DuPont also announced it expects first quarter 2020 GAAP EPS in the range of $ (1.00) to $ (0.70) and adjusted EPS (1) in the range of $0.82 - … The continued releases could be an indication that the two companies are still using PFOA, despite their assurances otherwise. 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