dupont earnings call transcript

So I think the growth — we see a lot of upside in the growth. ... Q1 2020 earnings call dated May. So with the -- with some of the economies actually starting to open up a little bit, I guess can you speak to whether you're seeing any incremental demand pull? In the quarter, we closed the sale of our Compound Semiconductor Solutions business, generating over $400 million in gross proceeds. So I think if you look at it, we're going to benchmark very, very well through this. So I mean I'm a big believer in benchmarking. With this deleveraging payment, we will have no long-term debt maturities until the end of 2023. We are also studying the temporary savings that we are experiencing in the areas such as T&E to better understand what changes we can make to ensure some portion of these temporary savings become more structural. We also have opportunities ahead of us for further cash generation through working capital improvement and proceeds from divestitures. It's a great question. DWDP earnings call for the period ending June 30, 2019. We have made meaningful progress regarding regulatory approval, we cleared the U.S. process in March and have since received approval in China, Serbia and Colombia. We will take our next question from Steve Tusa from JP Morgan. But we always have that flexibility in the future if there's a great opportunity for our shareholders. There's basically two plaintiffs that are handling the 100-or-so outstanding cases. Jonas Oxgaard -- Sanford C. Bernstein & Co., LLC -- Analyst. If I could just add some things by a comment. Plus productivity is an instilled mindset at DuPont, and we are consistently scouting for new areas to drive improvement. Right. No. S&C operating EBITDA margin of 28.8% was the highest it has been in several quarters, driven by the continued focus on price improvement, cost actions and productivity. But is there a possibility that a longer-term DuPont could become less capital-intensive and perhaps closer to the $1 billion run rate than the $1.5 billion-ish kind of levels? These actions were implemented quickly and we are seeing the benefits. But we're going to draw down the supply chain here and generate the $200 million to $250 million of cash performance in the Company. We will now take our next question from Steve Byrne from Bank of America. So we'll be in a normal operating environment. Nice quarter. Good morning. So we're well positioned to take advantage of any inflections in the market. Yeah, I think the inventory discussion is best had within T&I and E&I as you had mentioned, so T&I we talked at the beginning of the call that potentially there was a little bit of pre-buying in Q1 into the polymer chain, that caused our results to be a little bit better than where the auto builds were. We will also refer to non-GAAP measures. So sequentially, we do see nylon price declining again into Q2 and we see a similar down mid-single digit price overall in T&I in Q2. Please go ahead. Thanks for taking my question. Yes. News; Products. Every one of those segments is doing very well. That is a large customer of ours. Turning to Slide 8 for more detail on the segments. Yes. We have also used our 3D printing capabilities to make face shields for local hospitals that were experiencing shortages and partnered with Cummins to use DuPont's filtration technology to help augment the supply of N95 respirator masks. I mean are you saying that 2Q is the trough there? So as we mentioned, the sales in April were down low-to-mid teens. We're also seeing reductions in costs associated with capital projects as we pull back on our capital and lower spending across the Company. Yes. Having said that, we continue to expect to see our performance outpacing auto builds just driven by the content per vehicle. These areas of strength were more than offset by the absence of a $50 million prior year gains resulting in an operating EBITDA decline of 12%. I mean, Ed, how do you think about how you become more capital-efficient kind of longer term? As a result, the approach of operating many of our sites with a focus on cash generation to better match supply with demand will remain unchanged. Thank you. Yeah, let me hit the high level scenario planning we did first, Jeff, and I appreciate the question. During the call, we will make forward-looking statements regarding our expectations or predictions about the future. Thank you for joining us for DuPont second-quarter 2020 earnings conference call. We have reduced that to $1 billion. The semi demand was broad-based. These are unprecedented times, and I am personally engaged in the day-to-day work to respond quickly to the changing environment. So when you really then look at and most of you or all of you have written about this, when you look at RemainCo DuPont and what it trades -- I don't know, on a multiple basis, it's pretty incredible the disconnect that sits there. However, the majority of the benefits that we generated were from lower sales and idling facilities versus systemic productivity improvements. We're also — I don't want to get into all the details, but we're also looking at some outsourcing of some of the earlier change stuff in our portfolio that I don't feel we have to do and we can outsource that to somebody else, and we're studying that hard, too. So the highlights within S&C continue to be Tyvek and our water solutions business, so really nice growth, I think, 6% organically, 14% as reported, with the benefits of the water acquisitions that we made at the end of the quarter. We plan to maintain our competitive level of R&D spend of approximately $900 million in 2020, which will help to ensure that we are well positioned for growth once markets recover. And the demand on Tyvek even ex-garments because of medical supplies and all that, is very important to us. Our playbook for this environment is straightforward, improve cash generation through working capital improvement and deferral of certain capital expenditures, strengthen our liquidity position, and optimize the cost structure of the Company. I see kind of the structural cost which is positive obviously, because that kind of carries forward. I know earlier in the year, people were curious, is this thing going to stick and all that with everything going on. So remember what we really -- we still did move a key part of the T&I business over to Dow, which really fit more with them with exactly what they did. We will continue to stay focused on execution and remain confident that we will emerge from this crisis an even stronger company. Most of our synergy work as it is at DuPont is really going to be on the G&A side. Cumulative Growth of a $10,000 Investment in Stock Advisor, DuPont (DD) Q2 2020 Earnings Call Transcript @themotleyfool #stocks $DD, DuPont (DD) Q3 2020 Earnings Call Transcript, DuPont de Nemours Inc (DD) Q1 2020 Earnings Call Transcript, Cummins and DuPont Partner to Make N95 Mask Alternative, Copyright, Trademark and Patent Information. In the second quarter, we announced our TyvekTogether campaign, which will allow us to add another 5 million to 6 million garments. Calendar Earnings Calls Earnings Transcripts SEC Docs. Let me just answer, no, I don't feel any different about T&I. Good morning, guys. And I guess we're still seeing some softness in nylon and some other things. Benzinga - 2 months ago. Good morning everybody. And just to add on to that, to make it clear, this is a business in T&I that we are truly running for cash performance in this period of times. Please read the forward-looking statement disclaimer contained in the slide. So that's the kind of the path that Lori and I are on right now in the Company and I think we'll continue to get some opportunities from that. And then, one other point I would just make, remember that I think a lot of the hoopla around PFOA with us, and I certainly acknowledge this, that it's a little bit of a cloud over us is that, we are being named in a fair amount of the firefighting foam cases, but it's very important and I know Steve you've written extensively about this, we never made firefighting foam. 1 position that we're going to have. So we do expect that the overall handset to be down versus prior year but we'll pretty much offset that decline with the higher content that we have in the newer smartphones. 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