DuPont de Nemours Inc

Q1 results beat guidance; strong profitability and cash flow - Net sales $1.7B, +4% YoY (+2% organic, +2% currency). - Operating EBITDA $414M (+15% YoY), margin 24.6% (+230 bps YoY). On a pro forma basis, EBITDA margin expansion was +130 bps. - Adjusted EPS $0.55 (+53% YoY reported, +20% YoY pro forma). - Cash flow: transaction-adjusted free cash flow $147M, 65% conversion (noted typically stronger in 2H, especially 3Q).

Raising full-year 2026 guidance (forecast improvements) - Full-year net sales now ~ $7.185B (up $80M vs prior guide), implying ~4% organic growth. - Pricing actions assumed ~1% to fully offset higher input costs from the Middle East conflict. - FX: expected currency benefit <1% (stronger USD reduces tailwind). - Full-year operating EBITDA now ~ $1.745B (midpoint), reflecting the stronger Q1 partially offset by currency headwinds. - Adjusted EPS range raised to $2.35–$2.40 (midpoint +$0.10 vs prior), now includes: - Higher interest income (benefit from Aramids transaction, per company) - Lower tax rate expected 24%–25%. - Q2 expectations (guidance): net sales ~$1.8B, operating EBITDA ~$430M, adjusted EPS ~$0.59, with ~3% organic growth.

Shareholder return: accelerated buyback announced - Company expects to launch a $275M accelerated share repurchase (ASR) under the existing authorization—positioned as disciplined capital allocation.