Stock Monitor: FMC Corp. Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 21, 2018 / Active-Investors.com has just released a free earnings report on DowDuPont Inc. (NYSE: DWDP). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=DWDP. DowDuPont reported its fourth quarter fiscal 2017 operating and financial results on February 01, 2018. The agriculture and materials science chemicals Company surpassed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for FMC Corporation (NYSE: FMC), which also belongs to the Basic Materials sector as the Company DowDuPont. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, DowDuPont most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
DowDuPont's net sales increased 13% to $20.1 billion compared to pro-forma net sales of $17.7 billion in Q4 2016. The Company's reported numbers exceeded analysts' estimates of $19.46 billion.
For full year (FY) 2017, DowDuPont's GAAP net sales totaled $62.48 billion compared to $48.16 billion in FY16.
During Q4 2017, DowDuPont's operating earnings before interest, tax, depreciation, and amortization (EBITDA) advanced 24% on a pro-forma basis to $3.9 billion, driven by volume and price gains, including new capacity additions in the US Gulf Coast and Saudi Arabia, cost synergies, lower pension/ other post-employment benefit plans (OPEB) costs and higher equity earnings.
For Q4 2017, DowDuPont reported GAAP loss from continuing operations of $1.26 billion, or $0.52 per share, compared to GAAP loss of $33 million, or $0.03 per share, in Q4 2016. The Company's reported quarter GAAP results included net tax benefits of $1.1 billion or $0.46 per share, related to remeasurements and charges as a result of new US tax legislation.
For Q4 2017, DowDuPont's adjusted earnings surged 41% to $0.83 compared to pro-forma adjusted earnings per share of $0.59 per share in Q4 2016. The Company's adjusted earnings excluded significant items in the reported quarter totaling net charges of $1.26 per share as well as a $0.09 per share charge for DuPont's amortization of intangible assets.
For FY17, DowDuPont's GAAP earnings per share from continuing operations was $0.95 compared to $3.52 per share in FY16. The Company's pro-forma adjusted earnings per share jumped 22% to $3.40 versus the year ago same period.
DowDuPont's Segment Information
During Q4 2017, the Agriculture segment sales grew 5% to $2.8 billion compared to pro-forma net sales of $2.7 billion in Q4 2016. Operating EBITDA for the segment more than doubled to $224 million versus pro-forma operating EBITDA of $100 million in the year ago same period. The improvement resulted primarily from synergies and other cost reductions, lower pension/OPEB costs, volume increases, and a net portfolio gain.
For Q4 2017, DowDuPont's Materials Science Segment's Performance Materials & Coatings division reported net sales of $2.2 billion, up 15% versus pro-forma net sales of $1.9 billion in Q4 2016. Performance Materials & Coatings' operating EBITDA soared 56% to $613 million compared to pro-forma operating EBITDA of $392 million in the year ago same period, primarily due to increased pricing, higher equity earnings, strong end-market demand and cost synergies.
During Q4 2017, Materials Science segment's Industrial Intermediates & Infrastructure division recorded net sales of $3.6 billion, up 27% versus pro-forma net sales of $2.8 billion in Q4 2016. Double-digit sales gains were reported in all geographic regions, while volume grew 13% and local price rose 12%. The segment's operating EBITDA was $677 million, up 38% from pro-forma operating EBITDA of $489 million in the year ago same period.
In Q4 2017, Material Science Segment's Packaging & Specialty Plastics unit reported net sales of $6.1 billion, up 17% from pro-forma net sales of $5.2 billion in Q4 2016. Sales growth was driven by volume gains of 8%, local price increases of 7% and a 2% tailwind from currency, primarily in Europe. Operating EBITDA for the segment totaled $1.3 billion, flat with pro-forma operating EBITDA in the prior year's corresponding period.
During Q4 2017, the Specialty Products segment's Electronics & Imaging division delivered net sales of $1.2 billion, reflecting growth of 1% on a y-o-y basis. Operating EBITDA for the segment was $367 million, up 11% from pro-forma operating EBITDA of $331 million in the year earlier same quarter. Volume growth, lower pension/OPEB costs, and cost synergies more than offset hurricane-related costs, a negative impact from portfolio and higher raw material costs.
For Q4 2017, the Specialty Products segment's Nutrition & Biosciences unit recorded net sales of $1.6 billion, up from pro-forma net sales of $1.4 billion in Q4 2016. The segment's net sales growth of 10% was due to a 6% net benefit from portfolio, a 2% benefit from volume, and a 2% benefit from currency. Operating EBITDA for the segment jumped 14% to $352 million on a y-o-y basis from pro-forma operating EBITDA of $309 million in the year ago comparable period.
For Q4 2017, Specialty Products' Transportation & Advanced Polymers segment reported net sales of $1.3 billion, up 10% compared to pro-forma net sales of $1.2 billion in the year-ago same period. The growth was led by strong demand from the automotive market and broad-based demand from electronics and industrial markets. Operating EBITDA for the segment was $365 million, up 32% from pro-forma operating EBITDA of $276 million in the year ago corresponding period.
During Q4 2017, the segment's Safety & Construction division delivered net sales of $1.3 billion, up 4% compared to pro-forma net sales of $1.2 billion for Q4 2016. Operating EBITDA for the segment was $285 million, up 26% from pro-forma operating EBITDA of $227 million in Q4 2016.
Cash Matters
During Q4 2017, DowDuPont's cash flow from operations was $4.2 billion, driven by increased cash earnings and Agriculture's seasonal cash inflow. The Company returned nearly $2 billion to shareholders in the reported quarter through dividends of 0.9 billion and share repurchases worth $1 billion.
Separation Announcement
DowDuPont announced that it has updated the timing and sequence of the intended separation of the companies: Materials Science is expected to separate by the end of Q1 2019, and Agriculture and Specialty Products are expected to separate by June 01, 2019.
Stock Performance Snapshot
February 20, 2018 - At Tuesday's closing bell, DowDuPont's stock marginally fell 0.46%, ending the trading session at $71.62.
Volume traded for the day: 6.72 million shares.
Stock performance in the previous three-month period - up 1.33%; and year-to-date - up 0.56%
After yesterday's close, DowDuPont's market cap was at $167.36 billion.
Price to Earnings (P/E) ratio was at 79.40.
The stock has a dividend yield of 2.12%.
The stock is part of the Basic Materials sector, categorized under the Chemicals - Major Diversified industry.
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