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. Rouda asked about the discharges because both companies have said publicly they no longer use PFOA. 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. The EPA has reported that at least 600 PFAS are being used in commerce. Price, currency and portfolio impacts were each neutral versus third quarter 2019. (2)   Adjusted EPS, operating EBITDA and free cash flow are non-GAAP measures. 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. The EPA has identified just over 200 PCBs, and there are far more PFAS chemicals. Growth in Electronics & Imaging was more than offset by sales declines in the other segments primarily due to the impact of the global pandemic. 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. “This commitment is evident in the results we announced today. Sarkis Mazmanian Lab Homepage / In The News In The News November 12, 2020. Operating Activities The IFF shareholder meeting is set to take place on August 27, 2020. 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. DuPont (NYSE: DD) is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. Acquisitions in the Water Solutions business increased reported sales by 3 percent. It underscores how even if industry stops using PFOA or other PFAS chemicals, they will be with us for a long time – and that as we try to get rid of the PFOA in the environment, it’s being replaced with newer kinds of PFAS that are less studied and, research shows, potentially as dangerous, with many of the same toxicity concerns as old PFAS chemicals. History shows that even decades after being banned, some chemicals’ ongoing impact continues to be deeply harmful to health and the environment. 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 - … DuPont Oct 01, 2020, 09:00 ET. PFAS discharged over the past 50 years by companies like DuPont and 3M – which knew it was dangerous as early as the 1950s – will stay in the environment until it’s actively remediated. PCBs were manufactured by Monsanto beginning in 1929 and are linked to various health harms, including cancer, reproductive harms and immune effects. 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. 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 … Organic sales were up 8 percent driven by a 9 percent growth in volume offset by a 1 percent decline in price. Currency and portfolio impacts were both neutral versus third quarter 2019. Cancel Sign Out DuPont de Nemours, Inc. Consolidated Statement of Cash Flows. US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. Reconciliation to the most directly comparable GAAP measure, including details of significant items begins on page 13 of this communication. Donate, The latest from EWG’s staff of experts >>. The challenge of cleaning up PCBs pales in comparison to the coming PFAS crisis. A recent study identified over 200 categories of use for more than 1,400 individual PFAS chemicals. In millions (Unaudited) Six Months Ended June 30, 2020. DuPont pegged the maximum liability for those cases at $128 million. Currency was neutral. DuPont trades for about 17 times estimated 2020 earnings, in line with other chemical companies in the S&P. In response, Lowe’s and DuPont teamed up to support businesses that are transforming their operations to help supply … Capital expenditures of approximately $200 million resulted in free cash flow(2) of $1.1 billion. And unlike PCBs, which were banned and subject to cleanup regulations, PFAS remain largely unregulated. And some companies that are not subject to those agreements have admitted they still use PFOA. Even if the ongoing discharges in Ohio and West Virginia can be attributed to legacy discharges, that’s little comfort. PFOA and other PFAS are called “forever chemicals” because they never break down in the environment. “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. 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. All rights reserved. The EPA’s most recent update of its CompTox database identified more than 9,000 different compounds related to PFAS. You will be signed out from all sessions. DuPont de Nemours Inc., fresh off a $26.2 billion deal to offload its nutrition business, is weighing a divestiture of its electronics unit, … 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. Share this article. 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. Share this article. 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.”. The Centers for Disease Control and Prevention says these chemicals pollute the bodies of virtually all Americans, including newborn babies. WILMINGTON, Del., October 29, 2020 - DuPont (NYSE: DD) today announced financial results for the third quarter 2020. China sales in our core segments improved 14 percent versus the third quarter 2019 and 10 percent sequentially from second quarter 2020. Operating EBITDA(2) was $1.3 billion, down 7 percent versus operating EBITDA(2) in the prior year. PFOA is the most notorious of the thousands of fluorinated chemicals known as PFAS, which have contaminated drinking water for an estimated 200 million-plus Americans. See page 7 for further discussion. Pressure from the Environmental Protection Agency forced DuPont and other companies to phase out PFOA, and they agreed not to use it after 2015. DuPont.com News & Media; Contact. Operating Activities. But there are other possible explanations for these discharges. 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. Pressure from the Environmental Protection Agency forced DuPont and other companies to phase out PFOA, and they agreed not to use it … 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. 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. Organic sales were down 14 percent with volume down 9 percent and price lower by 5 percent. 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