===DuPont (DD) announces plan to separate into three separate publicly traded companies

DuPont de Nemours, Inc., commonly shortened to DuPont, is an American multinational chemical company first formed in 1802 by French-American chemist and industrialist Éleuthère Irénée du Pont de Nemours. 

• In 2015, DuPont and the Dow Chemical Company agreed to a reorganization plan in which the two companies would merge and split into three. 
• As a merged entity, DuPont simultaneously acquired Dow and renamed itself to DowDuPont on August 31, 2017, and after 18 months spun off the merged entity's material science divisions into a new corporate entity bearing Dow Chemical's name and agribusiness divisions into the newly created Corteva; DowDuPont reverted its name to DuPont and kept the specialty products divisions.

DuPont announces plan to separate into three separate publicly traded companies, including separations of its Electronics and Water businesses; also reaffirms Q2 and FY24 guidance

• Co announces a plan to separate into three distinct, publicly traded companies. Under the plan, DuPont would execute the proposed separations of its Electronics and Water businesses in a tax-free manner to its shareholders with New DuPont continuing as a premier diversified industrial company following completion of the separations. As independent entities, both Electronics and Water will benefit from increased focus and agility in their respective industries.
• New DuPont will be a premier diversified industrial company with iconic brands such as Tyvek, Kevlar and Nomex. New DuPont will have a strong presence in fast-growing healthcare end-markets including applications for biopharma consumables, medical devices, and medical packaging.
  • New DuPont will be comprised of the existing businesses within the Water & Protection segment (excluding Water Solutions), the majority of businesses within Industrial Solutions (including healthcare), and the retained businesses reported in Corporate.
  • These businesses generated net sales of approximately $6.6 billion and operating EBITDA margin of approximately 24% in 2023.
• Electronics will be a global provider of differentiated electronics materials including key consumables used in semiconductor chip manufacturing, as well as advanced electronic materials enabling reliable signal integrity, power management and thermal management. The company will be well positioned to capture growth in the semiconductor industry, driven by high-performance computing demands from AI, high speed connectivity, smart and autonomous vehicles and the Internet of Things, among other mega-trend growth drivers.
  • Electronics will be comprised of the existing Semiconductor Technologies and Interconnect Solutions lines of business, as well as the electronics-related product lines from Industrial Solutions. These businesses generated net sales of approximately $4.0 billion and operating EBITDA margin of approximately 29% in 2023.
• Water will be a global technology leader with a comprehensive portfolio of water filtration and purification solutions with leading technologies in reverse osmosis, ion exchange and ultrafiltration.
  • Water will be comprised of DuPont's current Water Solutions line of business which generated net sales of approximately $1.5 billion and operating EBITDA margin of approximately 24% in 2023.
• Co reaffirms guidance for Q2 (Jun), sees Q2 (Jun) revs of $3.025 vs. $3.04 bln FactSet Consensus.
• Co reaffirms guidance for FY24 (Dec), sees EPS of $3.45-$3.75, excluding non-recurring items, vs. $3.63 FactSet Consensus; sees FY24 (Dec) revs of $12.1-$12.4 bln vs. $12.27 bln FactSet Consensus.