DuPont, IFF Set 4Q, 2020 Guidance as Nutrition & Biosciences Separation Nears Close
January 26 2021 - 7:44AM
Dow Jones News
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)
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