I know earlier in the year, people were curious, is this thing going to stick and all that with everything going on. Before we move to the Q&A portion of our call, I would like to remind you that our forward looking statements apply to both our prepared remarks and the following Q&A. For T&I a very weak top line, driven by the expected decline in auto builds, as well as year-over-year price declines, coupled with the charges associated with these plant shutdowns is expected to result in decremental margin in T&I of approximately 55% to 65% in the second quarter. DuPont follows other major Basic Materials sector earnings this month. I mean, we grow 5%, 6%, 7%. So we saw continued strength in E&I, continued strength in N&B, and the strength in E&I is primarily coming again from semiconductors as we see increased usage in the data and server space. So I think if you look at it, we're going to benchmark very, very well through this. With that, let me turn it back to Ed for an update on the N&B and IFF transaction as well as some final comments on what we expect in the third quarter. And remember, we will still have $2.3 billion of excess cash left over from that $7.3 billion that we will have available to us. Calendar Earnings Calls Earnings Transcripts SEC Docs. Good morning. DuPont narrowed its adjusted earnings per share guidance to the range of $3.77-$3.82 for 2019. So I feel very bullish on that. DuPont (NYSE:DD)Q2 2020 Earnings CallJul 30, 2020, 8:00 a.m. In fact, we have been successful in maintaining our operating base during the global pandemic with only a handful of our manufacturing locations shut down by local restrictions over the past few months, and currently operations are restricted at only two of our 170 manufacturing sites. So with your strong free cash flow from the working capital release, when do you think it can come back in a meaningful way in share repurchases? We did mention in our prepared remarks, but just to reiterate, that we were able to put in place some incremental capacity expansions to be able to meet the current Tyvek demand. And our next question will come from Bob Koort with Goldman Sachs. Yeah, so I think, to answer your question on the second quarter, so we do at this point where we sit, see the second quarter as the lowest through the year. Joining me on the call today are Ed Breen, chief executive officer; and Lori Koch, our chief financial officer. So I think it's across-the-board. Please go ahead. Image source: The Motley Fool. 09:21AM : DuPont Reports a Big Loss, but the Results Are a Good Sign for the Global Economy. We've had great feedback from customers on our ability to do a lot of application development work with them with the extensive portfolio we're going to have. We also slowed those down. We saw market strength in both logic and foundry, driven by the ramp-up of advanced technology nodes, which placed nicely to our product portfolio as well as robust demand for memory in servers and data centers. Can you maybe frame anything that maybe temporary that can kind of defend the margins in the near-term? Good day, ladies and gentlemen, and welcome to the DuPont Fabros Technology second quarter 2010 earnings conference call. We will not wed to things being exactly the way they are. So anyway that was one. I would now like to turn the call over to Mr.Neal Sheorey. And just to add on to that, to make it clear, this is a business in T&I that we are truly running for cash performance in this period of times. The clearance processes in the remaining required jurisdictions are well under way. Looking ahead, we plan on using $5 billion of special cash payment associated with the N&B and IFF deal to pay down debt, which will leave us in a very favorable position with no long-term debt maturities until the end of 2023. With this report, we are not only able to convey our progress toward our 2030 sustainability goals, but we are also able to highlight our innovations across the company, which create a positive impact in people's lives every day. Next question will come from John Roberts with UBS. Oct. 29, 2020 10:35 PM ET DuPont de Nemours, Inc. (DD) SA Transcripts. Good morning. Collaboration will develop and commercialize applications of DuPont’s enzymatic polymerization technology – a powerful step toward a more circular economy and sustainable future for materialsWILMINGTON, Del. Good morning, everyone. And T&I and S&C are kind of flat. Our 2019 Form 10-K as updated by our current and periodic reports includes detailed discussion of principal risks and uncertainties, which may cause such differences. I remain very excited to bring these two businesses together to create a global leader. I know it's tough to do M&A right now. We are making this call available to investors and media via webcast. So combined with a couple of initiatives of bringing some new assets online as well as debottlenecking, that's where we're able to double the production of Tyvek garment. Just to give you a little more granularity around that, and similar to comments that Lori made a little bit ago, E&I is up double digit, N&B is up double-digit and by way, the real performance in N&B is probiotics in China is double-digit growth. And so we not only added -- in the first quarter alone we usually have about 15 million garments. Our teams have developed a number of detailed plans to generate working capital benefits beyond those that you would expect in a soft macro environment, and we anticipate these initiatives will favorably impact the second half and enable a greater than $500 million improvement that we are targeting for 2020. But we also, as we said, we lag in the supply chain a little bit. Returns as of 01/26/2021. In March, we indicated that we would be doubling the incremental cost actions that we plan to deliver in 2020 from approximately $90 million to $180 million. And by the way, I don't plan on this happening at all, but it was truly just scenario planning. And I guess to that you spoke earlier in the call as to maybe there was a little bit of inventory to kind of work through, whether it was yours or your customers in the auto side. By the way, everything that we've delayed is simply a delay. Obviously, none of us have a crystal ball here, but would appreciate your perspective on really what you think this does look like and the path back up and out of this current drawdown? Recent call transcripts of DuPont de Nemours Inc. Q3 2020. Hopefully, we're not trading around 8x moving forward. And so any upside that you see as far as top line growth that may negatively impact working capital, we're going to have to offset that with ongoing productivity. Yeah, I think our next area of focus, we've obviously run a lot of cost out of there over the last few years. Our first question will come from Steve Tusa with J.P. Morgan. ... Q1 2020 earnings call dated May. Strength in the quarter was led by double-digit growth in Interconnect Solutions, driven by higher material content in premium next generation smartphones and high single-digit growth in Semiconductor Technologies, our new technology ramps within logic and foundry coupled with robust demand for memory in servers, and data centers. It's a nice play for us to be able to offset some of the decline that we expect within the overall handset. And maybe as part of that answer, Ed, you made a comment about planning for an unlikely steep and prolonged downturn. But the headwinds that we're seeing in aerospace and oil and gas are more than offsetting that, as well as construction with all the stay-at-home orders. It's a great question. We've benchmarked every single program, what's the return going to be on the program, were we spending what we said? DuPont de Nemours' (DD) CEO Ed Breen on Q3 2020 Results - Earnings Call Transcript. Unless otherwise specified, all historical financial measures presented today exclude significant items. And not sure if that's a one-off or an ongoing trend to bring capacity back to the U.S., but if that's the latter, would that be a positive for your Semi business? DuPont Electronics Sales Lift Adjusted Profit Ahead of Estimates uk.reuters. But again, it's hard to tell when things actually hit in the sales number during the quarter. But is there a possibility that a longer-term DuPont could become less capital-intensive and perhaps closer to the $1 billion run rate than the $1.5 billion-ish kind of levels? So just in great shape. In addition, the companies announced two independent DuPont appointees to the Board of Directors of the future combined company. Specific to T&I, approximately $10 billion of goodwill and intangibles were recorded in 2017, equating to more than 75% of the overall carrying value of the segment. And just on T&I, you mentioned an inventory build that could impact Q3 in the auto area. So I mean I'm a big believer in benchmarking. DuPont has four or five products that sell into that industry. So I think we've balanced this thing very well. Just wondering if anything is an obstacle at this point? News; Products. We have also used our 3D printing capabilities to make face shields for local hospitals that were experiencing shortages and partnered with Cummins to use DuPont's filtration technology to help augment the supply of N95 respirator masks. So if they continue like that, we're going to continue like that. In the Nutrition & Biosciences, you drove 240 basis points of margin improvement. And we've announced some capacity expansion to enable that need to grow into Q2. Wondering if you could comment a little bit I guess in T&I and S&C, do you have some petrochemical backbones, what did the raw material build look like in the first quarter? Thank you for joining us for DuPont's first quarter 2020 earnings conference call. But we always have that flexibility in the future if there's a great opportunity for our shareholders. (MFTranscribers) May 5, 2020 at 2:00PM. And if we could do any more bolt-on acquisitions, we would be thrilled to do it in that space. 08:07AM : DuPont de Nemours: Q2 Earnings Insights. We will allow for one question per person. Interactive chart for DD201218C00070000 (DD201218C00070000) – analyse all of the data with a huge range of indicators. We're actually seeing some raw headwinds within N&B and some of [Indecipherable] based ingredients. So we've put a team together, and we're really looking at how do we handle our office footprint around the globe going forward. Steve, thanks for the question, and obviously we spend a lot of time on this topic. One of the things that I think every CEO is seeing in this environment, though, back to your point about the corporate office and many of our other offices, we've been able to really work very well remotely. [Operator Instructions]. So we're going to have really nice scale to be launching consistently new products into the markets. We remain focused on safely maintaining our operations. Sequentially, lower costs associated with idling facilities will be offset by a slightly weaker mix in S&C due to required downtime in Tyvek and the absence of gains associated with a customer settlement and a discrete tax item recorded in the second quarter. Thank you very much. Ed or Lori, just on Tyvek. And your next question will come from David Begleiter with Deutsche Bank. And that was through a combination of incremental capacity, remass [Phonetic] in our current asset, as well as pulling products from non-healthcare markets. Where do you think that goes down the road? And we even have quite a few of our scientists going in during the nighttime into the wee hours of the morning. So we're kind of doing a whole study on can we do kind of sharing of offices and all that and reduce the footprint as we move forward. We will also provide comments on the first quarter results, overall market dynamics in April, as well as our current assumptions for the next few months. We've been in conversations, and let me just say, I'm highly confident there'll be a resolution in the not too distant future on that. We saw a similar trend in the first quarter where our volumes declined with 8% when global auto builds were down 22%. OK. As a follow-up with that, if you don't mind, we're seeing a lot of discussion about hydrogen in the — particularly from the European Union. As Lori mentioned, one of them being medical, which has held up obviously very, very well through this period of time. That is a large customer of ours. Their extraordinary dedication in this incredibly challenging environment has enabled us to keep our sites and supply chains operational, our second priority for managing in these difficult times. 07:56AM : DuPont (DD) Beats Q2 Earnings and Revenue Estimates. Earlier, I mentioned the actions we have taken to run our T&I business for cash through this period of significant demand weakness. But a couple of our lines are extremely old lines. But we're going to draw down the supply chain here and generate the $200 million to $250 million of cash performance in the Company. I'll now turn it to Leland to open up for Q&A. You just can't make it right now because you don't know the facts. Possibly. Yes. The world is changing a lot, and given that you're a diversified company, are you seeing any place where you're changing your strategy in the next couple of years? That's very helpful. We also made nice progress on our third priority: bolstering our already strong balance sheet. So sequentially, we do see nylon price declining again into Q2 and we see a similar down mid-single digit price overall in T&I in Q2. Thanks, Leland, and good morning, everyone, and thank you for joining us. Just two for me. So when you kind of sit back and look at it, we have benchmarked every function in the Company, every business in the Company and we are getting the G&A expenditures to best-in-class benchmarking with the best companies out there. The results of our T&I business were generally as we had anticipated with a very difficult environment for both price and volume. We are also staying keenly focused on the downside risk in automotive, aerospace, oil and gas and other industrial markets. So I would just put in we kind of are hitting a hump on the high end for a couple of years. So I think we're — secularly where we're — our scientists are working where we're developing products for, I think, is in the sweet spot of a lot of things that are changing in the world. For your reference, the copy of the transcript will be posted on DuPont's website. Earnings DuPont de Nemours (NYSE:DD) Earnings Information. Before turning it over to Lori, I'd like to make a few comments on diversity, equality and inclusion. Our volumes in the second quarter were down 28% while global auto builds were down 45%. So really nice there, just as Ed had mentioned, with a lot of the customers looking to delay payments or missed payments because of the pandemic, we've actually went to the other side and reduced it. So we'll be in a strong position to reassess that with the Board. So the highlights within S&C continue to be Tyvek and our water solutions business, so really nice growth, I think, 6% organically, 14% as reported, with the benefits of the water acquisitions that we made at the end of the quarter. The arbitration was Chemours, the litigation of the Ohio MDL and any movement toward getting a little more collaborative on this front? China sales in our core segments improved 6% versus the second quarter of 2019 and 20% sequentially. So, and again, not surprised by that because the N&B business, as you could see in the first quarter had a tremendous quarter. 05, 2020 Corporate Participants: Leland Weaver -- Vice President, Investor Relations Edward Breen -- Executive. Yes. The proceeds of this three-year bond offering will be used to satisfy the debt maturities that become due in November of this year. I was wondering about your cash use, your buybacks. DuPont (DD) Beats Q2 Earnings and Revenue Estimates. The Tyvek protective garment business has expanded to nearly 30% of the Safety Solutions portfolio with garment sales up 65% in the second quarter. And in this case, I truly believe we have the revenue synergies we've talked about with what we can offer to a customer. 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