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Share Name Share Symbol Market Type
DuPont de Nemours Inc NYSE:DD NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.18 0.22% 81.86 5,121 10:46:20

DuPont, IFF Set 4Q, 2020 Guidance as Nutrition & Biosciences Separation Nears Close

26/01/2021 12:44pm

Dow Jones News


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By Dave Sebastian

 

DuPont de Nemours Inc. and International Flavors & Fragrances, which is combining with DuPont's Nutrition & Biosciences business through an exchange offer, on Tuesday released preliminary fourth-quarter and 2020 results

DuPont, a maker of nylon and other materials for the auto industry, said it expects fourth-quarter earnings from continuing operations of 35 cents a share to 37 cents, or 93 cents a share to 95 cents a share on an adjusted basis. It sees sales of about $5.25 billion.

DuPont said it expects 2020 loss from continuing operations of $3.97 a share to $3.95 a share, or a profit of $3.34 a share to $3.36 a share on an adjusted basis. It sees sales of roughly $20.4 billion.

The company reported fourth-quarter sales of $5.2 billion and 2019 sales of $21.51 billion in January 2020.

DuPont said Nutrition & Biosciences operating earnings before interest, taxes, depreciation and amortization for the fourth quarter could be about $340 million on net sales of approximately $1.5 billion. It sees the segment's 2020 operating Ebitda being about $1.52 billion on net sales of roughly $6.06 billion.

IFF said it expects fourth-quarter sales of about $1.27 billion, lower than the $1.28 billion in the prior year. It sees full-year sales of about $5.08 billion.

IFF said it anticipates fourth-quarter operating profit of about $100 million and about $566 million for 2020. It expects adjusted operating profit, excluding amortization, of about $203 million for the fourth quarter and about $922 million for 2020.

DuPont shareholders could elect to tender shares of DuPont stock in exchange for Nutrition & Biosciences Inc. common stock. The exchange offer will expire Jan. 29, DuPont said.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

January 26, 2021 07:29 ET (12:29 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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