Organic sales were down 9 percent with a 1 percent price improvement offset by a 10 percent decline in volume. For decades, DuPont dumped PFAS into the Ohio River in West Virginia, killing farm animals and poisoning the water of surrounding communities. Net sales totaled $5.1 billion, down 6 percent versus the year-ago period on both an as reported and organic basis. The EPA has reported that at least 600 PFAS are being used in commerce. DuPont de Nemours, Inc. Consolidated Statement of Cash Flows. The challenge of cleaning up PCBs pales in comparison to the coming PFAS crisis. 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. The contamination in Parkersburg and subsequent lawsuit were the subject of an acclaimed feature film released last year. 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.”. Operating EBITDA for the segment was $379 million, an increase of 7 percent from operating EBITDA of $354 million in the year-ago period. 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. The actions we have taken to right-size our cost structure and generate significant cash flow are delivering results today and we intend to maintain this momentum as we move forward.”, “In September, we completed the sale of our trichlorosilane business and our stake in the Hemlock Semiconductor joint venture and earlier this month we signed an agreement to sell the Biomaterials business,” Breen continued. Legal Disclaimer updated April 2016 | Privacy Policy updated October 2019. WILMINGTON, Del., October 29, 2020 - DuPont (NYSE: DD) today announced financial results for the third quarter 2020. All rights reserved. 2019. 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. 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. Electronics & Imaging reported a record quarter with net sales of $1.0 billion, up 7 percent from the year-ago period. Currency was neutral. 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. 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 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. Environmental Working Group is a 501(c)(3) nonprofit corporation, EIN 52-2148600. Sarkis Mazmanian Lab Homepage / In The News In The News November 12, 2020. Similarly, within Shelter Solutions, growth in residential construction and retail channels for do-it-yourself applications was more than offset by weak commercial construction. The EPA’s most recent update of its CompTox database identified more than 9,000 different compounds related to PFAS. The continued releases could be an indication that the two companies are still using PFOA, despite their assurances otherwise. “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. 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. (1)   Closing of transaction with IFF is subject to regulatory approval and customary closing conditions. Growth in Electronics & Imaging was more than offset by sales declines in the other segments primarily due to the impact of the global pandemic. “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.”. Share this article. And some companies that are not subject to those agreements have admitted they still use PFOA. Cancel Sign Out ET. DuPont Dec 31, 2020, 16:15 ET. ... DuPont 3Q 2020 Earnings. 2019. But 44 years later, PCBs remain prevalent in the environment. 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 $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. 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. Contact Us | Privacy Policy | Legal Disclaimer | Reprint Permission Information Continued productivity actions as well as favorable product mix was more than offset by lower volumes and the impact of temporarily idled facilities. DuPont trades for about 17 times estimated 2020 earnings, in line with other chemical companies in the S&P. Safety & Construction reported net sales of $1.2 billion, down 6 percent from the year-ago period. 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. Get the latest DuPont de Nemours, Inc. (DD) stock news and headlines to help you in your trading and investing decisions. There could be PFOA in products or mixtures used at the facilities. Bioethanol Market 2020-2024- Archer Daniels Midland Co., BP Plc, DuPont de Nemours Inc., Among Others to Contribute to the Market Growth | Technavio - … The final three recipients have been announced in MSA’s and DuPont’s 2020 Globe Gear Giveaway. 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. DuPont currently employs about 54,000 people, including 7,000 in Delaware. Copyright © 2021, Environmental Working Group. 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. Track elected officials, research health conditions, and find news … Currency was neutral. They were widely used for a myriad of industrial purposes, until they were banned as a class by Congress, in 1976. Add to Apple Calendar (opens in new window) US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. Volume declined 9 percent due to lower auto builds. Within Health & Biosciences, double-digit growth in both probiotics and home and personal care markets was more than offset by continued weakness in biorefinery and microbial control. Pharma Solutions sales were flat with the prior year. 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. News provided by. PFOA and other PFAS are called “forever chemicals” because they never break down in the environment. October 29, 2020 08:00 AM ET. 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. And there may be still more contamination: A 2015 study found that PCBs could be leaching from building materials in nearly 26,000 schools. 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. If so, that would be a serious breach of public trust. The slide presentation that accompanies the conference call will be posted on the DuPont’s Investor Relations Events and Presentations page. Share this article. Price, currency and portfolio impacts were each neutral versus third quarter 2019. 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. Roshni Khatri / for NBC News. DuPont Oct 01, 2020, 09:00 ET. Confirm Signout. A continued focus on cost control enabled operating EBITDA declines in-line with the decline in net sales on a percentage basis. Operating Activities. 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 … 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. 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, Chemours Reach Agreement Over 'Forever Chemicals' DOVER, Del. And unlike PCBs, which were banned and subject to cleanup regulations, PFAS remain largely unregulated. (2)   Adjusted EPS, operating EBITDA and free cash flow are non-GAAP measures. PCBs were manufactured by Monsanto beginning in 1929 and are linked to various health harms, including cancer, reproductive harms and immune effects. News & Media; Contact. Without aggressive action, PFAS chemicals will continue polluting people and the planet for centuries to come. Transportation & Industrial reported net sales of $1.0 billion, down 14 percent from the year-ago period. Net (loss) income Currency and portfolio impacts were both neutral versus third quarter 2019. A replay of the webcast also will be available on the DuPont’s Investor Relations Events and Presentations page following the live event. 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. 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. In millions (Unaudited) Nine Months Ended September 30, 2020. Organic sales were down 14 percent with volume down 9 percent and price lower by 5 percent. 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. DuPont de Nemours Inc., fresh off a $26.2 billion deal to offload its nutrition business, is weighing a divestiture of its electronics unit, … Strong demand for differentiated, high performance seals in semiconductor manufacturing lifted Kalrez® revenues high-teens percent. 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. In millions (Unaudited) Six Months Ended June 30, 2020. 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 … WILMINGTON, Del., May 5, 2020 - DuPont (NYSE: DD) today announced financial results for the first quarter 2020. Non-Core reported net sales of $331 million, down 23 percent from the year-ago period. So why are DuPont and its spinoff company Chemours still discharging PFOA from their facilities? Share this article. 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 Centers for Disease Control and Prevention says these chemicals pollute the bodies of virtually all Americans, including newborn babies. The September 2019 divestiture of the DuPont Sustainable Solutions business and the September 2020 divestiture of the trichlorosilane business reduced sales by 10 percent. Reconciliation to the most directly comparable GAAP measure, including details of significant items begins on page 13 of this communication. 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. Organic sales were up 8 percent driven by a 9 percent growth in volume offset by a 1 percent decline in price. You will be signed out from all sessions. Currency was neutral and portfolio was a 1 percent headwind. But there are other possible explanations for these discharges. 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. Pricing gains in Food & Beverage were more than offset by weaker demand primarily in emulsifiers, sweeteners, and cellulosics driven by declines in food service and lower consumer demand for mints and chewing gums in travel and convenience stores. Even if the ongoing discharges in Ohio and West Virginia can be attributed to legacy discharges, that’s little comfort. 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. Operating EBITDA(2) was $1.3 billion, down 7 percent versus operating EBITDA(2) in the prior year. 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. In response, Lowe’s and DuPont teamed up to support businesses that are transforming their operations to help supply … Donate, The latest from EWG’s staff of experts >>. 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. Continued broad-based demand across Water Solutions was more than offset by declines in both Safety Solutions and Shelter Solutions. 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. “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.”. Organic sales were down 13 percent driven by 18 percent volume declines and offset by 5 percent pricing gains. 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. DuPont (NYSE: DD) is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. News provided by. Operating EBITDA for the segment was $14 million, a decrease of 85 percent from operating EBITDA of $94 million in the year-ago period. For example, daily monitoring updates for the Parkersburg site reported 323.5 pounds of PFOA discharged in 2019. 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. 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. DuPont Dec 18, 2020, 06:00 ET. 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. A recent study identified over 200 categories of use for more than 1,400 individual PFAS chemicals. The EPA has identified just over 200 PCBs, and there are far more PFAS chemicals. Manufacturers have agreed to phaseouts of only a handful. Operating Activities 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. 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. July 1, 2020 As the COVID-19 outbreak expands, the supply of personal protective equipment (PPE) continues to be stressed. 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. Operating EBITDA for the segment totaled $324 million, a decrease of 8 percent from operating EBITDA of $352 million in the year-ago period. For example, regulators in New Jersey have found that the manufacturer Solvay has replaced PFNA, a PFAS chemical it phased out in 2010, with a new PFAS chemical that is toxic to the liver at potentially even lower doses than PFNA or PFOA. 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. New research from DuPont reveals huge demand for meat alternatives from consumers in key Asia markets. 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. “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. More information about the company, its businesses and solutions can be found at Pressure from the Environmental Protection Agency forced DuPont and other companies to phase out PFOA, and they agreed not to use it … Investors can access information included on the Investor Relations section of the website at 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.

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