DuPont Reports Third Quarter 2026 Results
• Net Sales of $1.9 billion increased 4%; organic sales increased 5% versus year-ago period
• GAAP Income from continuing operations of $171 million; operating EBITDA of $469 million
• Cash provided by operating activities from continuing operations of $410 million; transaction-adjusted free cash flow of $341 million representing 121% conversion
• Completed $250 million accelerated share purchase and substantially completed $100 million of open market share repurchases in the third quarter
- DuPont (NYSE: DD) announced its financial results (1) for the third quarter ended September 30, 2026 and again raised financial guidance for the full year 2026.
“We delivered another quarter of consistent, high-quality performance, once again exceeding our financial guidance,” said Lori Koch, DuPont Chief Executive Officer. “Mid-single-digit organic growth, strong operating leverage and disciplined capital allocation drove significant adjusted EPS growth. Additionally, we delivered strong free cash flow performance, with 121% conversion, underscoring the quality of our earnings and effective execution.
“We are executing from a position of strength and remain focused on unlocking the full potential of our portfolio to deliver sustained long-term value creation,” Koch concluded. Third Quarter 2026 Consolidated Results (1)
(1) Results and cash flows are presented on a continuing operations basis. See page 6 for further information, including the basis of presentation included in this release.
(2) Organic sales, operating EBITDA, operating EBITDA margin, adjusted EPS, transaction-adjusted free cash flow and transaction-adjusted free cash flow conversion are non-GAAP measures and only reflect continuing operations. See page 6 for further discussion, including a definition of significant items. Reconciliation to the most directly comparable GAAP measure, including details of significant items begins on page 13 of this communication.
• Net sales were up 4% on a 5% increase in organic sales partially offset by a 1% headwind from currency.
• 4% organic sales growth in Healthcare & Water Technologies; 5% organic sales growth in Diversified Industrials.
• GAAP Income/GAAP EPS from continuing operations improved on higher segment earnings and lower interest expense and transaction costs.
• Adjusted EPS increased on higher segment earnings and lower net interest expense, tax rate, and share count.
• Cash provided by operating activities from continuing operations in the quarter of $410 million, capital expenditures of $71 million, and separation- related transaction costs and other payments of $2 million resulted in transaction-adjusted free cash flow and related conversion of $341 million and 121%, respectively.
Dollars in Change Organic millions 3Q’26 3Q’25 vs. 3Q’25 Sales(2) vs. 3Q’25 Net sales $865 $832 4% 4% Operating $263 $246 7% EBITDA Operating EBITDA 30.4 % 29.6 % 80 bps margin %
• Net sales increased 4% on organic sales growth in the quarter. Third quarter 2025 net sales included a benefit of $15 million, or 2%, from the order timing shift from the fourth quarter 2025 due to separation-related activities, primarily in Water Technologies.
sales up mid-single digits on an organic basis led by growth in personal protection and medical packaging.
sales up low-single digits on an organic basis on strength in industrial water, semiconductor and specialty markets, partially offset by continued disruptions in the Middle East.
• Net sales increased 4% as organic sales growth of 5% was partially offset by a currency headwind of 1%. Third quarter 2025 net sales included a benefit of $15 million, or 2%, from the order timing shift from the fourth quarter 2025 due to separation-related activities, primarily in Industrial Technologies.
sales up mid-single digits on an organic basis due to growth in North America and Asia.
sales up mid-single digits on an organic basis on continued strength in aerospace and electric vehicle battery applications.
“Our results once again exceeded our financial expectations, demonstrating the strength of our operating model and consistent execution across the businesses. We are again raising our full-year financial outlook and now expect organic growth to be about 4.5%, operating EBITDA to be about $1.785 billion and adjusted EPS to be in the range of $7.47 - $7.52 per share, all at or above the high end of our previously communicated guidance,” said Antonella Franzen, DuPont Chief Financial Officer.
“With continued strength across healthcare, aerospace and industrial water end- markets, we remain well positioned to deliver attractive growth, strong cash generation and effective capital deployment,” Franzen concluded. 3
The Company will host a live webcast of its quarterly earnings conference call with investors to discuss its results and business outlook beginning today at 8:00 a.m. ET. The slide presentation that accompanies the conference call will be posted on the DuPont’s Investor Relations Events and Presentations page . A replay of the webcast also will be available on the DuPont’s Investor Relations Events and Presentations page following the live event.
DuPont (NYSE: DD) is a global innovation leader, providing advanced solutions that help transform industries and improve everyday life across our key markets of healthcare, water, construction, and industrial. More information about the company, its businesses and solutions can be found at www.dupont.com . Investors can access information included on the Investor Relations section of the website at investors.dupont.com .
For further information contact: DuPont Media: Investors: Dan Turner Ann Giancristoforo daniel.a.turner@dupont.com ann.giancristoforo@dupont.com
DuPont TM 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. 4
On May 26, 2026, DuPont’s Board of Directors announced a reverse stock split of the Company’s common stock, par value $0.01 per share, at a ratio of 1-for-3, as well as a reduction in the number of authorized shares of its common stock by a corresponding ratio (the "Reverse Stock Split"), as approved by shareholders. The Reverse Stock Split became effective on June 24, 2026. All share and share- related information presented in these interim Consolidated Financial Statements has been retroactively adjusted in all periods presented to reflect the decreased number of shares resulting from the Reverse Stock Split and related impacts.
On April 1, 2026, DuPont completed the sale of the Aramids business (the "Aramids Business" and the divestiture of the Aramids Business, the "Aramids Divestiture") to a subsidiary of ARC Falcon Holdings LP ("Arclin"), a portfolio company of an affiliate of TJC LP for pre-tax cash proceeds of approximately $1.2 billion, subject to customary transaction adjustments, a note receivable in the principal amount of $300 million (the "Aramids Note Receivable") and a non- controlling common equity interest (the "Aramids Equity Consideration"), valued at $325 million, in Arclin which now owns the Arclin global materials business and the Aramids Business. The financial results of the divested Aramids Business are reflected in DuPont's interim Consolidated Financial Statements as discontinued operations, along with comparative periods.
On November 1, 2025, DuPont completed the separation of its semiconductor and interconnect solutions businesses (the "Electronics Business" and the separation of the Electronics Business, the "Electronics Separation") into an independent public company, Qnity Electronics, Inc. ("Qnity"), by way of the distribution to DuPont's stockholders of record as of October 22, 2025 of all the issued and outstanding common stock of Qnity on November 1, 2025 (the "Qnity Distribution"). As a result, the financial results of the divested Electronics Business are reflected in DuPont's interim Consolidated Financial Statements as discontinued operations for all periods.
Certain statements in this document may be considered forward-looking statements, within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements often contain words such as “expect”, “anticipate”, “intend”, “plan”, “believe”, “seek”, “see”, “will”, “would”, “target”, “outlook”, “stabilization”, “confident”, “preliminary”, “initial”, “continue”, “may”, “could”, “project”, “estimate”, “forecast” and similar expressions and variations or negatives of these words. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties, and assumptions, many of which are beyond DuPont's control, that could cause actual results to differ materially from those expressed in any forward-looking statements.
Forward-looking statements are not guarantees of future results. Some of the important factors that could cause DuPont's actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to (i) the ability to realize the intended benefits of the Electronics Separation and the Qnity Distribution, including achievement of the intended tax treatment and the contractual allocation to, and assumption by, Qnity of liabilities and obligations, including certain legacy liabilities, as well as the possibility of disputes, litigation or unanticipated costs in connection with the Electronics Separation and Qnity Distribution; (ii) the impact of the Aramids Divestiture on DuPont’s balance sheet, financial condition and future results of operations, as well as any post-closing adjustments, and disputes or unanticipated costs in connection with the Aramids Divestiture; (iii) risks and costs associated with per- and polyfluoroalkyl substances ("PFAS") and the related arrangement among DuPont, Corteva, Inc. and The Chemours Company to share certain eligible costs, including the outcome of pending or future litigation, which includes personal injury claims and natural resource damages claims; the extent and cost of ongoing or future remediation and other environmental obligations; the collectability or availability of indemnification, reimbursement or cost-sharing rights; and applicable changes in laws, regulations, or enforcement policies; (iv) the failure to realize expected benefits and effectively manage and achieve anticipated synergies and operational efficiencies in connection with completed and future, if any, divestitures, mergers, acquisitions and other portfolio-management, productivity and infrastructure actions; (v) risks and uncertainties outside the Company’s control that adversely affect the economic and operating environment in which DuPont, its customers and/or its suppliers operate, including inflationary or deflationary pressures, changes in interest rates, foreign currency exchange rates, credit availability, consumer and industrial demand, economic slowdowns or recessions, political and regulatory developments, international trade policies, geopolitical tensions and military conflicts, capital market volatility as well as pandemics, natural disasters, severe weather events and other disruptions; (vi) the availability and cost of raw materials, energy, transportation and logistics, including the Company’s ability to mitigate or offset cost increases, shortages, delays or other supply-chain disruptions through pricing, productivity initiatives, alternative sourcing or otherwise; (vii) risks and uncertainties associated with continuing or expanding geopolitical conflicts, trade disputes, sanctions, trade restrictions and responsive or retaliatory actions, including the imposition, modification, invalidation, reinstatement or replacement of tariffs, export controls, including on exports to China of U.S.-regulated products and technology, or other trade measures; (viii) other risks to DuPont’s business and operations, including cybersecurity, operational and impairment risks; (ix) risks and uncertainties associated with the timing, amount and completion of repurchases under the Company’s share repurchase authorization, including market conditions, the trading price of the Company’s common stock, alternative uses of capital, applicable legal requirements, associated costs and the possibility that repurchases may be reduced, suspended or discontinued prior to completion; (x) the effects of the Reverse Stock Split on the trading price, liquidity and marketability of the Company’s common stock and the Company’s ability to realize the intended benefits of the Reverse Stock Split; and (xi) other risk factors discussed in DuPont’s most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.
Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business or supply chain disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on DuPont’s consolidated financial condition, results of operations, credit rating or liquidity. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. 5
Unless otherwise indicated, all financial metrics presented reflect continuing operations only.
This communication includes information that does not conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are considered non-GAAP measures. Management uses these measures internally for planning, forecasting and evaluating the performance of the Company, including allocating resources. DuPont’s management believes these non-GAAP financial measures are useful to investors because they provide additional information related to the ongoing performance of DuPont to offer a more meaningful comparison related to future results of operations. These non-GAAP financial measures supplement disclosures prepared in accordance with U.S. GAAP, and should not be viewed as an alternative to U.S. GAAP. Furthermore, such non-GAAP measures may not be consistent with similar measures provided or used by other companies. Reconciliations for these Non-GAAP measures to U.S. GAAP are provided in the Selected Financial Information and Non-GAAP Measures starting on page 12. Non-GAAP measures included in this communication are defined below. The Company has not provided forward-looking U.S. GAAP financial measures or a reconciliation of forward-looking non-GAAP financial measures to the most comparable U.S. GAAP financial measures on a forward-looking basis because the Company is unable to predict with reasonable certainty the ultimate outcome of certain future events. These events include, among others, the impact of portfolio changes, including asset sales, mergers, acquisitions, and divestitures; contingent liabilities related to litigation, environmental and indemnifications matters; impairments and discrete tax items. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP results for the guidance period.
Significant items are items that arise outside the ordinary course of business for the Company and includes items for nonconsolidated affiliates, that the Company’s management believes may cause misinterpretation of underlying business and investment performance, both historical and future, based on a combination of some or all of the item’s size, unusual nature and infrequent occurrence. Management classifies as significant items certain costs and expenses associated with integration and separation activities related to transformational acquisitions and divestitures as they are considered unrelated to ongoing business performance. There were no significant items associated with nonconsolidated affiliates recorded for the three and nine month periods ended September 30, 2026 and September 30, 2025.
Indirect costs, such as those related to corporate and shared service functions previously allocated to the separated Electronics Business and Aramids Business, do not meet the criteria for discontinued operations and are reported within continuing operations in all respective periods presented. The Company has, is, will or expects to be reimbursed in accordance with the applicable transition service agreements (“TSAs”) for the portion of indirect costs related to activities the Company is, will or expects to undertake on a transitional basis to support a) Qnity not beyond year end 2027 for services and 2040 for site leases and, b) the Aramids Business post the Aramids Divestiture, but not beyond 2028 (such indirect costs “Future Reimbursable Indirect Costs”). Services provided and costs reimbursed in accordance with the applicable TSAs include but are not limited to, costs associated with information technology services/support, product stewardship and regulatory support, facilities services, and shared property lease costs.
Future Reimbursable Indirect Costs do not meet the criteria for discontinued operations and therefore are included in both GAAP Net Income from Continuing Operations and in GAAP Cash provided by operating activities-continuing operations for all periods presented. Future Reimbursable Indirect Costs are excluded from Adjusted Earnings, Operating EBITDA and Transaction-Adjusted Free Cash Flow, each defined below. Such indirect costs that are not subject to future reimbursement are reported within continuing operations in Corporate and are included within Adjusted Earnings, Operating EBITDA, and Cash provided by operating activities-continuing operations.
Corporate DDOB Remediation Costs are environmental remediation costs, including certain investigate, remediate and restoration costs, associated with discontinued or divested operations, businesses or product lines (“Corporate DDOB Remediation Costs”). DDOB Remediation Costs are excluded from Adjusted Earnings and Operating EBITDA, as defined below, to provide better insight into the underlying business performance of the Company. 6
Organic Sales is defined as net sales excluding the impacts of currency and portfolio.
Adjusted Earnings is defined as income from continuing operations excluding the after-tax impact of significant items, after-tax impact of amortization expense of intangibles, the after-tax impact of non-operating pension / other post employment benefits (“OPEB”) credits / costs, Future Reimbursable Indirect Costs and Corporate DDOB Remediation Costs.
Adjusted Earnings is the numerator used in the calculation of Adjusted EPS, as well as the denominator in Adjusted Free Cash Flow Conversion.
Adjusted EPS is defined as Adjusted Earnings per common share - diluted. Management estimates amortization expense in 2026 associated with intangibles to be about $270 million on a pre-tax basis, or approximately $1.53 per share.
The Company's measure of profit/loss for segment reporting purposes is Operating EBITDA as this is the manner in which the Company's chief operating decision maker ("CODM") assesses performance and allocates resources. The Company defines Operating EBITDA as earnings (i.e., “Income from continuing operations before income taxes") before interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, and foreign exchange gains / losses, excluding Future Reimbursable Indirect Costs, Corporate DDOB Remediation Costs, and adjusted for significant items. Reconciliations of these measures are provided on the following pages.
Incremental Margin is the change in Operating EBITDA divided by the change in Net Sales for the applicable period.
Adjusted Free Cash Flow is defined as cash provided by/used for operating activities from continuing operations less capital expenditures and excluding the impact of cash inflows/outflows that are unusual in nature and/or infrequent in occurrence that neither relate to the ordinary course of the Company’s business nor reflect the Company’s underlying business liquidity. As a result, Adjusted Free Cash Flow represents cash that is available to the Company, after investing in its asset base, to fund obligations using the Company’s primary source of liquidity, cash provided by operating activities from continuing operations. Management believes Adjusted Free Cash Flow, even though it may be defined differently from other companies, is useful to investors, analysts and others to evaluate the Company’s cash flow and financial performance, and it is an integral measure used in the Company’s financial planning process. Management notes that there were no exclusions for items that are unusual in nature and/or infrequent in occurrence for the three and nine month periods ended September 30, 2026.
Adjusted Free Cash Flow Conversion is defined as Adjusted Free Cash Flow divided by Adjusted Earnings. Management uses Adjusted Free Cash Flow Conversion as an indicator of our ability to convert earnings to cash.
Transaction Adjusted Free Cash Flow & Transaction Adjusted Free Cash Flow Conversion
Management believes supplemental non-GAAP financial measures including Transaction-Adjusted Free Cash Flow and Transaction-Adjusted Free Cash Flow Conversion (each defined below) provide an integral view of information on the Company's underlying business performance during this period of transformational change. Management believes the Electronics Separation and Aramids Divestiture collectively represent a significant transformational change for the Company and separation-related transaction cost payments impact comparability to the Company’s continuing operations. Management believes Transaction-Adjusted Free Cash Flow, which may be defined differently from other companies, is useful to investors, analysts and others to evaluate the Company’s cash flow and financial performance, and it is an integral measure used in the Company’s financial planning process. These non-GAAP financial measures are not intended to represent residual cash flow for discretionary expenditures since other non- discretionary expenditures, such as mandatory debt service requirements, are not deducted from the measure. 7 Transaction-Adjusted Free Cash Flow is defined as cash provided by/used for operating activities from continuing operations less capital expenditures and removing the impact of separation-related transaction costs and other payment and cash inflows/outflows that are unusual in nature and/or infrequent in occurrence that neither relate to the ordinary course of the Company’s business nor reflect the Company’s underlying business liquidity.
Transaction-Adjusted Free Cash Flow Conversion is defined as Transaction- Adjusted Free Cash Flow excluding separation-related transaction costs, divided by Adjusted Earnings.
Separation-related transaction costs and other payments include cash outflows directly associated with the Electronics Separation and the Aramids Divestiture. These costs include advisor and banking fees, payments related to establishing a new capital structure (including fees associated with interest rate swaps), capital expenditures required to facilitate physical asset separation, restructuring payments associated with senior leadership, and Future Reimbursable Indirect Costs, among other expenditures.
Future Reimbursable Indirect Costs are excluded from Adjusted Earnings and Operating EBITDA. To provide comparable data analysis, the Company has also adjusted payments associated with Future Reimbursable Indirect Costs within Separation-related transaction costs and other payments . This adjustment is intended to provide insight into the Company's underlying business performance. For the nine months ended September 30, 2026, the Company adjusted $8 million associated with Future Reimbursable Indirect Costs within Separation-related transaction costs and other payments .
Additionally, $2 and $7 million were reflected in Separation-related transaction costs and other payments for the three and nine month periods ended September 30, 2026, respectively, for capital expenditures incurred to complete the physical separation of shared locations.
Finally, $6 million of restructuring and short-term incentive program payments to former senior leadership were reflected in Separation-related transaction costs and other payments for the nine month period ended September 30, 2026. These payments were reflected in other cash payments as they related to the establishment of the post-spin leadership structure. 8
In million… except Three Nine per Months Months share Ended Ended amounts September September (Unaudi… 2026 30, 2025 2026 30, 2025 ────────────────────────────────────────────────────────────────────────────── Net $ 1,868 $ 1,795 $ 5,368 $ 5,156 sales Cost of 1,201 1,179 3,460 3,391 sales Research and 42 52 131 155 develop… expenses Selling, general and 260 261 784 757 adminis… expenses Amortiz… of 68 71 204 220 intangi… Restruc… and asset 6 18 49 57 related charges - net Acquisi… integra… and 15 62 22 167 separat… costs Equity in earnings (loss) 5 — 13 -6 of noncons… affilia… Sundry income 38 24 116 115 (expens… - net Interest 40 85 121 252 expense Income from continu… operati… $ 279 $ 91 $ 726 $ 266 before income taxes Provisi… for (benefit from) 108 -11 214 60 income taxes on continu… operati… Income from continu… $ 171 $ 102 $ 512 $ 206 operati… net of tax Loss from discont… -45 -209 -75 -824 operati… net of tax Net income $ 126 $ -107 $ 437 $ -618 (loss) Net income attribu… 3 16 10 35 to noncont… interes… Net income (loss) availab… $ 123 $ -123 $ 427 $ -653 for DuPont common stockho… Per common share data: Earnings per common share $ 1.25 $ 0.70 $ 3.70 $ 1.43 from continu… operati… - basic Loss per common share from -0.34 -1.58 -0.55 -6.11 discont… operati… - basic Earnings (loss) per $ 0.92 $ -0.88 $ 3.15 $ -4.68 common share - basic Earnings per common share from $ 1.24 $ 0.70 $ 3.68 $ 1.43 continu… operati… - diluted Loss per common share from -0.33 -1.58 -0.55 -6.10 discont… operati… - diluted Earnings (loss) per $ 0.91 $ -0.88 $ 3.13 $ -4.67 common share - diluted Weighte… common shares 134.3 139.7 135.6 139.6 outstan… - basic Weighte… common shares 135.1 140.0 136.4 139.9 outstan… - diluted
In millions, except share amounts September 30, December 31, (Unaudited) 2026 2025 ────────────────────────────────────────────────────────────────────────────── Assets Current Assets Cash and cash $ 1,652 $ 715 equivalents Restricted cash and cash 7 42 equivalents Accounts and notes 1,728 1,669 receivable - net Inventories 1,238 1,172 Prepaid and other current 119 121 assets Assets of discontinued — 1,856 operations Total current $ 4,744 $ 5,575 assets Property, plant and equipment - net of accumulated depreciation 3,363 3,464 (September 30, 2026 - $3,739; December 31, 2025 - $3,565) Other Assets Goodwill 7,843 7,915 Other intangible 2,720 2,936 assets Investments and noncurrent 999 432 receivables Deferred income 175 282 tax assets Deferred charges and 965 971 other assets Total other $ 12,702 $ 12,536 assets Total Assets $ 20,809 $ 21,575 Liabilities and Equity Current Liabilities Short-term $ — $ 60 borrowings Accounts 1,011 995 payable Income taxes 50 54 payable Accrued and other current 953 882 liabilities Liabilities of discontinued — 314 operations Total current $ 2,014 $ 2,305 liabilities Long-Term Debt 3,094 3,134 Other Noncurrent Liabilities Deferred income 289 405 tax liabilities Pension and other post-employment 394 432 benefits - noncurrent Other noncurrent 1,328 1,196 obligations Total other noncurrent $ 2,011 $ 2,033 liabilities Total $ 7,119 $ 7,472 Liabilities Commitments and contingent liabilities Stockholders' Equity Common stock (authorized 555,555,556 shares of $0.01 par value each; issued 1 1 2026: 132,610,823 shares; 2025: 136,398,482 shares) Additional 38,718 38,721 paid-in capital Accumulated -24,544 -24,278 deficit Accumulated other -602 -525 comprehensive loss Total DuPont stockholders' $ 13,573 $ 13,919 equity Noncontrolling 117 184 interests Total equity $ 13,690 $ 14,103 Total Liabilities and $ 20,809 $ 21,575 Equity
Nine Months Ended In millions (Unaudited) September 30, Operating Activities 2026 2025 ────────────────────────────────────────────────────────────────────────────── Net income (loss) $ 437 $ -618 Loss from discontinued -75 -824 operations Net income from $ 512 $ 206 continuing operations Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and 464 488 amortization Provision (credit) for deferred income 60 -54 tax and other tax-related items (Earnings) loss of nonconsolidated affiliates (in excess -12 7 of) less than dividends received Net periodic pension 11 4 benefit costs Periodic benefit plan -38 -34 contributions Restructuring and asset related charges 49 57 - net Interest rate swap gain — -48 Interest rate swap — -20 termination Stock-based compensation 42 29 Donatelle contingent -20 -19 earn-out true-up Other net (income) loss -11 36 Changes in assets and liabilities, net of effects of acquired and divested companies:
Accounts and notes -67 -266 receivable Inventories -49 -42 Accounts payable 107 33 Other assets and -6 96 liabilities, net Cash provided by operating activities - $ 1,042 $ 473 continuing operations Investing Activities Capital expenditures -249 -246 Proceeds and adjustments to proceeds from sales of 1,159 — businesses, net of cash divested Acquisitions of property and businesses, — -61 net of cash acquired Other investing 10 4 activities, net Cash provided by (used for) investing $ 920 $ -303 activities - continuing operations Financing Activities Changes in short-term -60 — borrowings Purchases of common stock and forward -611 — contracts Proceeds from issuance 111 15 of Company stock Employee taxes paid for share-based -24 -22 payment arrangements Distributions to noncontrolling -11 -8 interests Dividends paid to -243 -515 stockholders Other financing -4 -8 activities, net Cash used for financing activities - $ -842 $ -538 continuing operations Cash Flows from Discontinued Operations Cash (used for) provided by operating -210 868 activities - discontinued operations Cash used for investing activities - -6 -276 discontinued operations Cash (used for) provided by financing -3 1,687 activities - discontinued operations Cash (used in) provided by discontinued $ -219 $ 2,279 operations Effect of exchange rate changes on cash, -2 23 cash equivalents and restricted cash Increase in cash, cash equivalents and $ 899 $ 1,934 restricted cash Cash, cash equivalents and restricted cash from continuing 757 1,834 operations, beginning of period Cash, cash equivalents and restricted cash from discontinued 3 58 operations, beginning of period Cash, cash equivalents and restricted $ 760 $ 1,892 cash at beginning of period Cash, cash equivalents and restricted cash from continuing 1,659 3,779 operations, end of period Cash, cash equivalents and restricted cash from discontinued — 47 operations, end of period Cash, cash equivalents and restricted $ 1,659 $ 3,826 cash at end of period
Three Months Net Sales Ended Variance by September 30, Segment 2026 ────────────────────────────────────────────────────────────────────────────── Organic Currency Portfolio / Total Sales Other Percent change from prior year (Unaudited) Healthcare & Water 4 % — % — % 4 % Technologi… Diversified 5 -1 — 4 Industrials Total 5 % -1 % — % 4 %
Nine Months Net Sales Ended Variance by September 30, Segment 2026 ────────────────────────────────────────────────────────────────────────────── Organic Currency Portfolio / Total Sales Other Percent change from prior year (Unaudited) Healthcare & Water 4 % 1 % — % 5 % Technologies Diversified 3 1 — 4 Industrials Total 3 % 1 % — % 4 %
1. Corporate includes expenses of the Corporate function not allocated to specific business in the Company. 12
2. The nine months ended September 30, 2026 and 2025 excludes accrued interest income earned on employee retention credits. The three and nine months ended September 30, 2025 excludes interest earned on cash held in escrow associated with the Qnity financing. Refer to details of significant items on page 14.
3. The three and nine months ended September 30, 2025 excludes interest rate swap basis amortization. Refer to details of significant items on page 14.
1. Adjusted Free Cash Flow and Transaction-Adjusted Free Cash Flow are calculated on a continuing operations basis for all periods presented. Refer to the definitions of Non-GAAP metrics on pages 7-8 for additional information.
2. Refer to the Consolidated Statement of Cash Flows included in the schedules above for major GAAP cash flow categories as well as further detail relating to the changes in "Cash provided by operating activities - continuing operations" for the nine month periods noted.
3. Other payments for the three months ended September 30, 2026 includes $2 million related of separation-related capital expenditures. Other payments for the nine months ended September 30, 2026 includes $7 million of separation- related capital expenditures, $6 million related to restructuring and short-term incentive program payments associated with former senior leadership, and $8 million for Future Reimbursable Indirect Costs (as defined in our Non-GAAP definitions).
4. Refer to page 14 for the Non-GAAP reconciliations of Net income from continuing operations available for DuPont common stockholders to Adjusted Earnings (Non-GAAP). 13
Significa… Items Impacting Results for the Three Months Ended September 30, 2026 ────────────────────────────────────────────────────────────────────────────── In millions, Income except per Pretax1 Net Income2 EPS3 Statement share Classifica… amounts (Unaudite… Reported earnings $ 279 $ 168 $ 1.24 (GAAP) Less: Significa… items Acquisiti… Acquisitio… integrati… integration & -15 -12 -0.09 and separation separation costs costs Restructu… Restructur… and asset and asset related -6 -4 -0.03 related charges charges - - net net Sundry income Other (expense) - benefits -1 — -0.01 net; (credits), Selling, net4 general and administra… expenses Provision Income tax for income items5 — -43 -0.31 taxes on continuing operations Total significa… $ -22 $ -59 $ -0.44 items Less: Amortizati… Amortizat… -68 -52 -0.38 of of intangibles intangibl… Less: Non-op Sundry pension / -2 -1 -0.01 income OPEB (expense) - benefit net costs Less:Corp… Selling, DDOB -4 -2 -0.02 general and remediati… administra… costs expenses Adjusted earnings $ 375 $ 282 $ 2.09 (non-GAAP)
Significa… Items Impacting Results for the Three Months Ended September 30, 2025 ────────────────────────────────────────────────────────────────────────────── In millions, Income except per Pretax1 Net Income2 EPS3 Statement share Classifica… amounts (Unaudite… Reported earnings $ 91 $ 98 $ 0.70 (GAAP) Less: Significa… items Acquisiti… Acquisitio… integrati… integration and -62 -42 -0.30 and separation separation costs costs Restructu… Restructur… and asset and asset related -18 -14 -0.10 related charges charges - - net net Interest Sundry rate swap -4 -2 -0.02 income mark-to-m… (expense) - loss6 net Sundry Qnity 9 7 0.05 income financing7 (expense) - net Sundry income Other (expense) - benefits -1 -2 -0.01 net; (credits), Selling, net8 general and administra… expenses Provision Income tax for income items9 — 48 0.34 taxes on continuing operations Total significa… $ -76 $ -5 $ -0.04 items Less: Amortizati… Amortizat… -71 -55 -0.39 of of intangibles intangibl… Less: Selling, Future general and reimbursa… -25 -19 -0.14 administra… indirect expenses costs Less:Corp… Selling, DDOB -3 -3 -0.02 general and remediati… administra… costs expenses Adjusted earnings $ 266 $ 180 $ 1.29 (non-GAAP)
2. Net income (loss) from continuing operations available for DuPont common stockholders. The income tax effect on significant items was calculated based upon the enacted tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment.
4. Includes legal costs related to personal injury cases associated with Corian® Quartz, a product within the Diversified Industrials segment ($7 million pre-tax cost), partially offset by benefits related to an adjustment of the Donatelle contingent earn-out liability ($6 million pre-tax benefit).
5. Primarily reflects tax charges related to research and development expensing election and non-tax deductible items recorded in the third quarter of 2026.
6. The three months ended September 30, 2025 includes a non-cash mark-to-market loss related to the 2022 Swaps and 2024 Swaps and the interest settlement loss on the 2022 Swaps. The three months ended September 30, 2025 also includes basis amortization on the 2022 Swaps ($1 million pre-tax cost).
8. Primarily reflects legal costs within the Healthcare & Water Technologies segment associated with a pending intellectual property matter ($9 million pre- tax cost), partially offset by benefits related to an adjustment of the Donatelle contingent earn-out liability ($7 million pre-tax benefit).
9. Reflects the income tax impact of certain internal restructurings related to the Electronics Separation. 14
Signific… Items Impacting Results for the Nine Months Ended September 30, 2026 ────────────────────────────────────────────────────────────────────────────── In millions, Income except Pretax1 Net EPS3 Statement per share Income2 Classific… amounts (Unaudit… Reported earnings $ 726 $ 502 $ 3.68 (GAAP) Less: Signific… items Acquisit… Acquisiti… integrat… integrati… & -22 -17 -0.13 and separati… separation costs costs Restruct… Restructu… and asset and asset related -49 -40 -0.29 related charges charges - - net net Sundry income Other (expense) benefits - net; (credits… -5 -3 -0.03 Selling, net4 general and administr… expenses Provision Income for income tax — -28 -0.20 taxes on items5 continuing operations Total signific… $ -76 $ -88 $ -0.65 items Less: Amortizat… Amortiza… -204 -157 -1.15 of of intangibl… intangib… Less: Non-op Sundry pension / -3 -2 -0.02 income OPEB (expense) benefit - net costs Less: Selling, Future general reimburs… -8 -6 -0.04 and indirect administr… costs expenses Less:Cor… Selling, DDOB general remediat… -14 -10 -0.07 and costs administr… expenses Adjusted earnings $ 1,031 $ 765 $ 5.61 (non-GAA…
Signific… Items Impacting Results for the Nine Months Ended September 30, 2025 ────────────────────────────────────────────────────────────────────────────── In millions, Income except Pretax1 Net Income2 EPS3 Statement per share Classific… amounts (Unaudit… Reported earnings $ 266 $ 200 $ 1.43 (GAAP) Less: Signific… items Acquisit… Acquisiti… integrat… integrati… and -167 -131 -0.93 and separati… separation costs costs Restruct… Restructu… and asset and asset related -57 -46 -0.33 related charges charges - - net net Sundry Interest income rate swap 46 37 0.26 (expense) mark-to-… - net; gain6 Interest expense Sundry Qnity 9 7 0.05 income financin… (expense) - net Other Sundry benefits 12 9 0.07 income (credits… (expense) net8 - net Provision Income for income tax — 46 0.32 taxes on items9 continuing operations Total signific… $ -157 $ -78 $ -0.56 items Less: Amortizat… Amortiza… -220 -172 -1.23 of of intangibl… intangib… Less: Non-op Sundry pension / 2 2 0.01 income OPEB (expense) benefit - net credits Less: Selling, Future general reimburs… -75 -58 -0.41 and indirect administr… costs expenses Less:Cor… Selling, DDOB general remediat… -8 -5 -0.03 and costs administr… expenses Adjusted earnings $ 724 $ 511 $ 3.65 (non-GAA…
2. Net income (loss) from continuing operations available for DuPont common stockholders. The income tax effect on significant items was calculated based upon the enacted tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment.
4. Reflects legal costs associated with personal injury cases associated with Corian® Quartz, a product within the Diversified Industrials segment ($18 million pre-tax cost) and legal costs within the Healthcare & Water Technologies segment associated with a pending intellectual property matter ($10 million pre- tax cost), partially offset by benefits related to an adjustment of the Donatelle contingent earn-out liability ($20 million pre-tax benefit) and the accrued interest earned on employee retention credits ($3 million pre-tax benefit).
5. Primarily reflects tax charges related to research and development expensing election and non-tax deductible items recorded in the third quarter of 2026, offset by a discrete tax benefit relating to a change in tax classification of a non-U.S. legal entity in the first quarter of 2026.
6. The nine months ended September 30, 2025 includes non-cash mark-to-market gain related to the 2022 Swaps and 2024 Swaps offset by the interest settlement loss on the 2022 Swaps. The nine months ended September 30, 2025 also includes basis amortization on the 2022 Swaps ($2 million pre-tax cost).
8. Primarily reflects benefits related to an adjustment of the Donatelle contingent earn-out liability ($19 million pre-tax benefit) and the accrued interest earned on employee retention credits ($6 million pre-tax benefit), partially offset by legal costs within the Healthcare & Water Technologies segment associated with a pending intellectual property matter ($14 million pre- tax cost).
9. Reflects the income tax impact of certain internal restructurings related to the Electronics Separation. 15
Full text with the tables
Exhibit 99.1
DuPont Reports Third Quarter 2026 Results
Exceeds Third Quarter 2026 Guidance
Raises Full Year 2026 Guidance
Third Quarter 2026 Highlights
• Net Sales of $1.9 billion increased 4%; organic sales increased 5% versus
year-ago period
• GAAP Income from continuing operations of $171 million; operating EBITDA of
$469 million
• GAAP EPS from continuing operations of $1.24; adjusted EPS of $2.09
• Cash provided by operating activities from continuing operations of $410
million; transaction-adjusted free cash flow of $341 million representing 121%
conversion
• Completed $250 million accelerated share purchase and substantially completed
$100 million of open market share repurchases in the third quarter
• Announces intent to repurchase $250 million of shares in the fourth quarter
WILMINGTON, Del., Nov. 3, 2026
- DuPont (NYSE: DD) announced its financial results (1) for the third quarter
ended September 30, 2026 and again raised financial guidance for the full year
2026.
“We delivered another quarter of consistent, high-quality performance, once
again exceeding our financial guidance,” said Lori Koch, DuPont Chief Executive
Officer. “Mid-single-digit organic growth, strong operating leverage and
disciplined capital allocation drove significant adjusted EPS growth.
Additionally, we delivered strong free cash flow performance, with 121%
conversion, underscoring the quality of our earnings and effective execution.
“We are executing from a position of strength and remain focused on unlocking
the full potential of our portfolio to deliver sustained long-term value
creation,” Koch concluded.
Third Quarter 2026 Consolidated Results (1)
Dollars
in Change Organic
million… 3Q’26 3Q’25 vs. 3Q’25 Sales(2)
except vs. 3Q’25
EPS
Net $1,868 $1,795 4% 5%
sales
GAAP
Income
from $171 $102 68%
continu…
operati…
Operati… $469 $436 8%
EBITDA(…
Operati…
EBITDA 25.1 % 24.3 % 80 bps
margin(…
GAAP EPS
from $1.24 $0.70 77%
continu…
operati…
Adjusted $2.09 $1.29 62%
EPS(2)
Cash
provided
by
operati… $410 $322 27%
activit…
–
cont.
ops.
Transac…
free $341 $346 -1%
cash
flow(2)
(1) Results and cash flows are presented on a continuing operations basis. See
page 6 for further information, including the basis of presentation included in
this release.
(2) Organic sales, operating EBITDA, operating EBITDA margin, adjusted EPS,
transaction-adjusted free cash flow and transaction-adjusted free cash flow
conversion are non-GAAP measures and only reflect continuing operations. See
page 6 for further discussion, including a definition of significant items.
Reconciliation to the most directly comparable GAAP measure, including details
of significant items begins on page 13 of this communication.
Net sales
• Net sales were up 4% on a 5% increase in organic sales partially offset by a
1% headwind from currency.
• 4% organic sales growth in Healthcare & Water Technologies; 5% organic sales
growth in Diversified Industrials.
GAAP Income from continuing operations
• GAAP Income/GAAP EPS from continuing operations improved on higher segment
earnings and lower interest expense and transaction costs.
Operating EBITDA
• Operating EBITDA increased on organic growth and productivity.
Adjusted EPS
• Adjusted EPS increased on higher segment earnings and lower net interest
expense, tax rate, and share count.
Cash provided by operating activities from continuing operations
• Cash provided by operating activities from continuing operations in the
quarter of $410 million, capital expenditures of $71 million, and separation-
related transaction costs and other payments of $2 million resulted in
transaction-adjusted free cash flow and related conversion of $341 million and
121%, respectively.
Third Quarter 2026 Segment Highlights
Healthcare & Water Technologies
Dollars in Change Organic
millions 3Q’26 3Q’25 vs. 3Q’25 Sales(2)
vs. 3Q’25
Net sales $865 $832 4% 4%
Operating $263 $246 7%
EBITDA
Operating
EBITDA 30.4 % 29.6 % 80 bps
margin %
Net sales
• Net sales increased 4% on organic sales growth in the quarter. Third quarter
2025 net sales included a benefit of $15 million, or 2%, from the order timing
shift from the fourth quarter 2025 due to separation-related activities,
primarily in Water Technologies.
◦
Healthcare Technologies
sales up mid-single digits on an organic basis led by growth in personal
protection and medical packaging.
◦
Water Technologies
sales up low-single digits on an organic basis on strength in industrial water,
semiconductor and specialty markets, partially offset by continued disruptions
in the Middle East.
Operating EBITDA
• Operating EBITDA and margin increased on organic growth and productivity.
2
Diversified Industrials
Dollars Change Organic
in 3Q’26 3Q’25 vs. 3Q’25 Sales(2)
millions vs. 3Q’25
Net sales $1,003 $963 4% 5%
Operating $242 $219 11%
EBITDA
Operating
EBITDA 24.1 % 22.7 % 140 bps
margin %
Net sales
• Net sales increased 4% as organic sales growth of 5% was partially offset by a
currency headwind of 1%. Third quarter 2025 net sales included a benefit of $15
million, or 2%, from the order timing shift from the fourth quarter 2025 due to
separation-related activities, primarily in Industrial Technologies.
◦
Building Technologies
sales up mid-single digits on an organic basis due to growth in North America
and Asia.
◦
Industrial Technologies
sales up mid-single digits on an organic basis on continued strength in
aerospace and electric vehicle battery applications.
Operating EBITDA
• Operating EBITDA and margin increased on organic growth and productivity.
2026 Financial Outlook
Dollars in millions, except EPS 4Q'26E Full Year 2026E
Net sales ~$1,825 ~$7,190
Operating EBITDA(2) ~$455 ~$1,785
Adjusted EPS(2) $1.90 - $1.95 $7.47 - $7.52
“Our results once again exceeded our financial expectations, demonstrating the
strength of our operating model and consistent execution across the businesses.
We are again raising our full-year financial outlook and now expect organic
growth to be about 4.5%, operating EBITDA to be about $1.785 billion and
adjusted EPS to be in the range of $7.47 - $7.52 per share, all at or above the
high end of our previously communicated guidance,” said Antonella Franzen,
DuPont Chief Financial Officer.
“With continued strength across healthcare, aerospace and industrial water end-
markets, we remain well positioned to deliver attractive growth, strong cash
generation and effective capital deployment,” Franzen concluded.
3
Conference Call
The Company will host a live webcast of its quarterly earnings conference call
with investors to discuss its results and business outlook beginning today at
8:00 a.m. ET. The slide presentation that accompanies the conference call will
be posted on the DuPont’s Investor Relations Events and Presentations page . A
replay of the webcast also will be available on the DuPont’s Investor Relations
Events and Presentations page following the live event.
About DuPont
DuPont (NYSE: DD) is a global innovation leader, providing advanced solutions
that help transform industries and improve everyday life across our key markets
of healthcare, water, construction, and industrial. More information about the
company, its businesses and solutions can be found at www.dupont.com . Investors
can access information included on the Investor Relations section of the website
at investors.dupont.com .
For further information contact:
DuPont Media:
Investors: Dan Turner
Ann Giancristoforo daniel.a.turner@dupont.com
ann.giancristoforo@dupont.com
DuPont TM 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.
4
Overview
On May 26, 2026, DuPont’s Board of Directors announced a reverse stock split of
the Company’s common stock, par value $0.01 per share, at a ratio of 1-for-3, as
well as a reduction in the number of authorized shares of its common stock by a
corresponding ratio (the "Reverse Stock Split"), as approved by shareholders.
The Reverse Stock Split became effective on June 24, 2026. All share and share-
related information presented in these interim Consolidated Financial Statements
has been retroactively adjusted in all periods presented to reflect the
decreased number of shares resulting from the Reverse Stock Split and related
impacts.
On April 1, 2026, DuPont completed the sale of the Aramids business (the
"Aramids Business" and the divestiture of the Aramids Business, the "Aramids
Divestiture") to a subsidiary of ARC Falcon Holdings LP ("Arclin"), a portfolio
company of an affiliate of TJC LP for pre-tax cash proceeds of approximately
$1.2 billion, subject to customary transaction adjustments, a note receivable in
the principal amount of $300 million (the "Aramids Note Receivable") and a non-
controlling common equity interest (the "Aramids Equity Consideration"), valued
at $325 million, in Arclin which now owns the Arclin global materials business
and the Aramids Business. The financial results of the divested Aramids Business
are reflected in DuPont's interim Consolidated Financial Statements as
discontinued operations, along with comparative periods.
On November 1, 2025, DuPont completed the separation of its semiconductor and
interconnect solutions businesses (the "Electronics Business" and the separation
of the Electronics Business, the "Electronics Separation") into an independent
public company, Qnity Electronics, Inc. ("Qnity"), by way of the distribution to
DuPont's stockholders of record as of October 22, 2025 of all the issued and
outstanding common stock of Qnity on November 1, 2025 (the "Qnity
Distribution"). As a result, the financial results of the divested Electronics
Business are reflected in DuPont's interim Consolidated Financial Statements as
discontinued operations for all periods.
Cautionary Statement Regarding Forward-looking Statements
Certain statements in this document may be considered forward-looking
statements, within the meaning of the federal securities laws, including Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements often contain words
such as “expect”, “anticipate”, “intend”, “plan”, “believe”, “seek”, “see”,
“will”, “would”, “target”, “outlook”, “stabilization”, “confident”,
“preliminary”, “initial”, “continue”, “may”, “could”, “project”, “estimate”,
“forecast” and similar expressions and variations or negatives of these words.
All statements, other than statements of historical fact, are forward-looking
statements. Forward-looking statements address matters that are, to varying
degrees, uncertain and subject to risks, uncertainties, and assumptions, many of
which are beyond DuPont's control, that could cause actual results to differ
materially from those expressed in any forward-looking statements.
Forward-looking statements are not guarantees of future results. Some of the
important factors that could cause DuPont's actual results to differ materially
from those projected in any such forward-looking statements include, but are not
limited to (i) the ability to realize the intended benefits of the Electronics
Separation and the Qnity Distribution, including achievement of the intended tax
treatment and the contractual allocation to, and assumption by, Qnity of
liabilities and obligations, including certain legacy liabilities, as well as
the possibility of disputes, litigation or unanticipated costs in connection
with the Electronics Separation and Qnity Distribution; (ii) the impact of the
Aramids Divestiture on DuPont’s balance sheet, financial condition and future
results of operations, as well as any post-closing adjustments, and disputes or
unanticipated costs in connection with the Aramids Divestiture; (iii) risks and
costs associated with per- and polyfluoroalkyl substances ("PFAS") and the
related arrangement among DuPont, Corteva, Inc. and The Chemours Company to
share certain eligible costs, including the outcome of pending or future
litigation, which includes personal injury claims and natural resource damages
claims; the extent and cost of ongoing or future remediation and other
environmental obligations; the collectability or availability of
indemnification, reimbursement or cost-sharing rights; and applicable changes in
laws, regulations, or enforcement policies; (iv) the failure to realize expected
benefits and effectively manage and achieve anticipated synergies and
operational efficiencies in connection with completed and future, if any,
divestitures, mergers, acquisitions and other portfolio-management, productivity
and infrastructure actions; (v) risks and uncertainties outside the Company’s
control that adversely affect the economic and operating environment in which
DuPont, its customers and/or its suppliers operate, including inflationary or
deflationary pressures, changes in interest rates, foreign currency exchange
rates, credit availability, consumer and industrial demand, economic slowdowns
or recessions, political and regulatory developments, international trade
policies, geopolitical tensions and military conflicts, capital market
volatility as well as pandemics, natural disasters, severe weather events and
other disruptions; (vi) the availability and cost of raw materials, energy,
transportation and logistics, including the Company’s ability to mitigate or
offset cost increases, shortages, delays or other supply-chain disruptions
through pricing, productivity initiatives, alternative sourcing or otherwise;
(vii) risks and uncertainties associated with continuing or expanding
geopolitical conflicts, trade disputes, sanctions, trade restrictions and
responsive or retaliatory actions, including the imposition, modification,
invalidation, reinstatement or replacement of tariffs, export controls,
including on exports to China of U.S.-regulated products and technology, or
other trade measures; (viii) other risks to DuPont’s business and operations,
including cybersecurity, operational and impairment risks; (ix) risks and
uncertainties associated with the timing, amount and completion of repurchases
under the Company’s share repurchase authorization, including market conditions,
the trading price of the Company’s common stock, alternative uses of capital,
applicable legal requirements, associated costs and the possibility that
repurchases may be reduced, suspended or discontinued prior to completion; (x)
the effects of the Reverse Stock Split on the trading price, liquidity and
marketability of the Company’s common stock and the Company’s ability to realize
the intended benefits of the Reverse Stock Split; and (xi) other risk factors
discussed in DuPont’s most recent annual report on Form 10-K and subsequent
quarterly reports on Form 10-Q and current reports on Form 8-K filed with the
U.S. Securities and Exchange Commission.
Unlisted factors may present significant additional obstacles to the realization
of forward-looking statements. Consequences of material differences in results
as compared with those anticipated in the forward-looking statements could
include, among other things, business or supply chain disruption, operational
problems, financial loss, legal liability to third parties and similar risks,
any of which could have a material adverse effect on DuPont’s consolidated
financial condition, results of operations, credit rating or liquidity. Undue
reliance should not be placed on forward-looking statements, which speak only as
of the date they are made. DuPont assumes no obligation to publicly provide
revisions or updates to any forward-looking statements whether as a result of
new information, future developments or otherwise, should circumstances change,
except as otherwise required by securities and other applicable laws.
5
Non-GAAP Financial Measures
Unless otherwise indicated, all financial metrics presented reflect continuing
operations only.
This communication includes information that does not conform to accounting
principles generally accepted in the United States of America (“U.S. GAAP”) and
are considered non-GAAP measures. Management uses these measures internally for
planning, forecasting and evaluating the performance of the Company, including
allocating resources. DuPont’s management believes these non-GAAP financial
measures are useful to investors because they provide additional information
related to the ongoing performance of DuPont to offer a more meaningful
comparison related to future results of operations. These non-GAAP financial
measures supplement disclosures prepared in accordance with U.S. GAAP, and
should not be viewed as an alternative to U.S. GAAP. Furthermore, such non-GAAP
measures may not be consistent with similar measures provided or used by other
companies. Reconciliations for these Non-GAAP measures to U.S. GAAP are provided
in the Selected Financial Information and Non-GAAP Measures starting on page 12.
Non-GAAP measures included in this communication are defined below. The Company
has not provided forward-looking U.S. GAAP financial measures or a
reconciliation of forward-looking non-GAAP financial measures to the most
comparable U.S. GAAP financial measures on a forward-looking basis because the
Company is unable to predict with reasonable certainty the ultimate outcome of
certain future events. These events include, among others, the impact of
portfolio changes, including asset sales, mergers, acquisitions, and
divestitures; contingent liabilities related to litigation, environmental and
indemnifications matters; impairments and discrete tax items. These items are
uncertain, depend on various factors, and could have a material impact on U.S.
GAAP results for the guidance period.
Key Terms
Significant Items
Significant items are items that arise outside the ordinary course of business
for the Company and includes items for nonconsolidated affiliates, that the
Company’s management believes may cause misinterpretation of underlying business
and investment performance, both historical and future, based on a combination
of some or all of the item’s size, unusual nature and infrequent occurrence.
Management classifies as significant items certain costs and expenses associated
with integration and separation activities related to transformational
acquisitions and divestitures as they are considered unrelated to ongoing
business performance. There were no significant items associated with
nonconsolidated affiliates recorded for the three and nine month periods ended
September 30, 2026 and September 30, 2025.
Future Reimbursable Indirect Costs
Indirect costs, such as those related to corporate and shared service functions
previously allocated to the separated Electronics Business and Aramids Business,
do not meet the criteria for discontinued operations and are reported within
continuing operations in all respective periods presented. The Company has, is,
will or expects to be reimbursed in accordance with the applicable transition
service agreements (“TSAs”) for the portion of indirect costs related to
activities the Company is, will or expects to undertake on a transitional basis
to support a) Qnity not beyond year end 2027 for services and 2040 for site
leases and, b) the Aramids Business post the Aramids Divestiture, but not beyond
2028 (such indirect costs “Future Reimbursable Indirect Costs”). Services
provided and costs reimbursed in accordance with the applicable TSAs include but
are not limited to, costs associated with information technology
services/support, product stewardship and regulatory support, facilities
services, and shared property lease costs.
Future Reimbursable Indirect Costs do not meet the criteria for discontinued
operations and therefore are included in both GAAP Net Income from Continuing
Operations and in GAAP Cash provided by operating activities-continuing
operations for all periods presented. Future Reimbursable Indirect Costs are
excluded from Adjusted Earnings, Operating EBITDA and Transaction-Adjusted Free
Cash Flow, each defined below. Such indirect costs that are not subject to
future reimbursement are reported within continuing operations in Corporate and
are included within Adjusted Earnings, Operating EBITDA, and Cash provided by
operating activities-continuing operations.
Corporate DDOB Remediation Costs
Corporate DDOB Remediation Costs are environmental remediation costs, including
certain investigate, remediate and restoration costs, associated with
discontinued or divested operations, businesses or product lines (“Corporate
DDOB Remediation Costs”). DDOB Remediation Costs are excluded from Adjusted
Earnings and Operating EBITDA, as defined below, to provide better insight into
the underlying business performance of the Company.
6
Non-GAAP Measure Definitions
Organic Sales
Organic Sales is defined as net sales excluding the impacts of currency and
portfolio.
Adjusted Earnings
Adjusted Earnings is defined as income from continuing operations excluding the
after-tax impact of significant items, after-tax impact of amortization expense
of intangibles, the after-tax impact of non-operating pension / other post
employment benefits (“OPEB”) credits / costs, Future Reimbursable Indirect Costs
and Corporate DDOB Remediation Costs.
Adjusted Earnings is the numerator used in the calculation of Adjusted EPS, as
well as the denominator in Adjusted Free Cash Flow Conversion.
Adjusted EPS
Adjusted EPS is defined as Adjusted Earnings per common share - diluted.
Management estimates amortization expense in 2026 associated with intangibles to
be about $270 million on a pre-tax basis, or approximately $1.53 per share.
Operating EBITDA, EBITDA Margin & Incremental Margin
The Company's measure of profit/loss for segment reporting purposes is Operating
EBITDA as this is the manner in which the Company's chief operating decision
maker ("CODM") assesses performance and allocates resources. The Company defines
Operating EBITDA as earnings (i.e., “Income from continuing operations before
income taxes") before interest, depreciation, amortization, non-operating
pension / OPEB benefits / charges, and foreign exchange gains / losses,
excluding Future Reimbursable Indirect Costs, Corporate DDOB Remediation Costs,
and adjusted for significant items. Reconciliations of these measures are
provided on the following pages.
Operating EBITDA Margin is defined as Operating EBITDA divided by Net Sales.
Incremental Margin is the change in Operating EBITDA divided by the change in
Net Sales for the applicable period.
Adjusted Free Cash Flow & Adjusted Free Cash Flow Conversion
Adjusted Free Cash Flow is defined as cash provided by/used for operating
activities from continuing operations less capital expenditures and excluding
the impact of cash inflows/outflows that are unusual in nature and/or infrequent
in occurrence that neither relate to the ordinary course of the Company’s
business nor reflect the Company’s underlying business liquidity. As a result,
Adjusted Free Cash Flow represents cash that is available to the Company, after
investing in its asset base, to fund obligations using the Company’s primary
source of liquidity, cash provided by operating activities from continuing
operations. Management believes Adjusted Free Cash Flow, even though it may be
defined differently from other companies, is useful to investors, analysts and
others to evaluate the Company’s cash flow and financial performance, and it is
an integral measure used in the Company’s financial planning process. Management
notes that there were no exclusions for items that are unusual in nature and/or
infrequent in occurrence for the three and nine month periods ended September
30, 2026.
Adjusted Free Cash Flow Conversion is defined as Adjusted Free Cash Flow divided
by Adjusted Earnings. Management uses Adjusted Free Cash Flow Conversion as an
indicator of our ability to convert earnings to cash.
Transaction Adjusted Free Cash Flow & Transaction Adjusted Free Cash Flow
Conversion
Management believes supplemental non-GAAP financial measures including
Transaction-Adjusted Free Cash Flow and Transaction-Adjusted Free Cash Flow
Conversion (each defined below) provide an integral view of information on the
Company's underlying business performance during this period of transformational
change. Management believes the Electronics Separation and Aramids Divestiture
collectively represent a significant transformational change for the Company and
separation-related transaction cost payments impact comparability to the
Company’s continuing operations. Management believes Transaction-Adjusted Free
Cash Flow, which may be defined differently from other companies, is useful to
investors, analysts and others to evaluate the Company’s cash flow and financial
performance, and it is an integral measure used in the Company’s financial
planning process. These non-GAAP financial measures are not intended to
represent residual cash flow for discretionary expenditures since other non-
discretionary expenditures, such as mandatory debt service requirements, are not
deducted from the measure.
7
Transaction-Adjusted Free Cash Flow is defined as cash provided by/used for
operating activities from continuing operations less capital expenditures and
removing the impact of separation-related transaction costs and other payment
and cash inflows/outflows that are unusual in nature and/or infrequent in
occurrence that neither relate to the ordinary course of the Company’s business
nor reflect the Company’s underlying business liquidity.
Transaction-Adjusted Free Cash Flow Conversion is defined as Transaction-
Adjusted Free Cash Flow excluding separation-related transaction costs, divided
by Adjusted Earnings.
Separation-related transaction costs and other payments include cash outflows
directly associated with the Electronics Separation and the Aramids Divestiture.
These costs include advisor and banking fees, payments related to establishing a
new capital structure (including fees associated with interest rate swaps),
capital expenditures required to facilitate physical asset separation,
restructuring payments associated with senior leadership, and Future
Reimbursable Indirect Costs, among other expenditures.
Future Reimbursable Indirect Costs are excluded from Adjusted Earnings and
Operating EBITDA. To provide comparable data analysis, the Company has also
adjusted payments associated with Future Reimbursable Indirect Costs within
Separation-related transaction costs and other payments . This adjustment is
intended to provide insight into the Company's underlying business performance.
For the nine months ended September 30, 2026, the Company adjusted $8 million
associated with Future Reimbursable Indirect Costs within Separation-related
transaction costs and other payments .
Additionally, $2 and $7 million were reflected in Separation-related transaction
costs and other payments for the three and nine month periods ended September
30, 2026, respectively, for capital expenditures incurred to complete the
physical separation of shared locations.
Finally, $6 million of restructuring and short-term incentive program payments
to former senior leadership were reflected in Separation-related transaction
costs and other payments for the nine month period ended September 30, 2026.
These payments were reflected in other cash payments as they related to the
establishment of the post-spin leadership structure.
8
DuPont de Nemours, Inc.
Consolidated Statements of Operations
In
million…
except Three Nine
per Months Months
share Ended Ended
amounts September September
(Unaudi… 2026 30, 2025 2026 30, 2025
──────────────────────────────────────────────────────────────────────────────
Net $ 1,868 $ 1,795 $ 5,368 $ 5,156
sales
Cost of 1,201 1,179 3,460 3,391
sales
Research
and 42 52 131 155
develop…
expenses
Selling,
general
and 260 261 784 757
adminis…
expenses
Amortiz…
of 68 71 204 220
intangi…
Restruc…
and
asset 6 18 49 57
related
charges
- net
Acquisi…
integra…
and 15 62 22 167
separat…
costs
Equity
in
earnings
(loss) 5 — 13 -6
of
noncons…
affilia…
Sundry
income 38 24 116 115
(expens…
- net
Interest 40 85 121 252
expense
Income
from
continu…
operati… $ 279 $ 91 $ 726 $ 266
before
income
taxes
Provisi…
for
(benefit
from) 108 -11 214 60
income
taxes on
continu…
operati…
Income
from
continu… $ 171 $ 102 $ 512 $ 206
operati…
net
of tax
Loss
from
discont… -45 -209 -75 -824
operati…
net
of tax
Net
income $ 126 $ -107 $ 437 $ -618
(loss)
Net
income
attribu… 3 16 10 35
to
noncont…
interes…
Net
income
(loss)
availab… $ 123 $ -123 $ 427 $ -653
for
DuPont
common
stockho…
Per
common
share
data:
Earnings
per
common
share $ 1.25 $ 0.70 $ 3.70 $ 1.43
from
continu…
operati…
- basic
Loss per
common
share
from -0.34 -1.58 -0.55 -6.11
discont…
operati…
- basic
Earnings
(loss)
per $ 0.92 $ -0.88 $ 3.15 $ -4.68
common
share -
basic
Earnings
per
common
share
from $ 1.24 $ 0.70 $ 3.68 $ 1.43
continu…
operati…
-
diluted
Loss per
common
share
from -0.33 -1.58 -0.55 -6.10
discont…
operati…
-
diluted
Earnings
(loss)
per $ 0.91 $ -0.88 $ 3.13 $ -4.67
common
share -
diluted
Weighte…
common
shares 134.3 139.7 135.6 139.6
outstan…
- basic
Weighte…
common
shares 135.1 140.0 136.4 139.9
outstan…
-
diluted
9
DuPont de Nemours, Inc.
Condensed Consolidated Balance Sheets
In millions,
except share
amounts September 30, December 31,
(Unaudited) 2026 2025
──────────────────────────────────────────────────────────────────────────────
Assets
Current Assets
Cash and cash $ 1,652 $ 715
equivalents
Restricted cash
and cash 7 42
equivalents
Accounts and
notes 1,728 1,669
receivable -
net
Inventories 1,238 1,172
Prepaid and
other current 119 121
assets
Assets of
discontinued — 1,856
operations
Total current $ 4,744 $ 5,575
assets
Property, plant
and equipment -
net of
accumulated
depreciation 3,363 3,464
(September 30,
2026 - $3,739;
December 31,
2025 -
$3,565)
Other Assets
Goodwill 7,843 7,915
Other
intangible 2,720 2,936
assets
Investments and
noncurrent 999 432
receivables
Deferred income 175 282
tax assets
Deferred
charges and 965 971
other assets
Total other $ 12,702 $ 12,536
assets
Total Assets $ 20,809 $ 21,575
Liabilities and
Equity
Current
Liabilities
Short-term $ — $ 60
borrowings
Accounts 1,011 995
payable
Income taxes 50 54
payable
Accrued and
other current 953 882
liabilities
Liabilities of
discontinued — 314
operations
Total current $ 2,014 $ 2,305
liabilities
Long-Term Debt 3,094 3,134
Other
Noncurrent
Liabilities
Deferred income 289 405
tax liabilities
Pension and
other
post-employment 394 432
benefits -
noncurrent
Other
noncurrent 1,328 1,196
obligations
Total other
noncurrent $ 2,011 $ 2,033
liabilities
Total $ 7,119 $ 7,472
Liabilities
Commitments and
contingent
liabilities
Stockholders'
Equity
Common stock
(authorized
555,555,556
shares of $0.01
par value each;
issued 1 1
2026:
132,610,823
shares; 2025:
136,398,482
shares)
Additional 38,718 38,721
paid-in capital
Accumulated -24,544 -24,278
deficit
Accumulated
other -602 -525
comprehensive
loss
Total DuPont
stockholders' $ 13,573 $ 13,919
equity
Noncontrolling 117 184
interests
Total equity $ 13,690 $ 14,103
Total
Liabilities and $ 20,809 $ 21,575
Equity
10
DuPont de Nemours, Inc.
Consolidated Statement of Cash Flows
Nine Months Ended
In millions (Unaudited) September 30,
Operating Activities 2026 2025
──────────────────────────────────────────────────────────────────────────────
Net income (loss) $ 437 $ -618
Loss from discontinued -75 -824
operations
Net income from $ 512 $ 206
continuing operations
Adjustments to reconcile
net income to
net cash provided by
operating
activities:
Depreciation and 464 488
amortization
Provision (credit) for
deferred income 60 -54
tax and other
tax-related items
(Earnings) loss of
nonconsolidated
affiliates (in excess -12 7
of) less than
dividends received
Net periodic pension 11 4
benefit costs
Periodic benefit plan -38 -34
contributions
Restructuring and asset
related charges 49 57
- net
Interest rate swap gain — -48
Interest rate swap — -20
termination
Stock-based compensation 42 29
Donatelle contingent -20 -19
earn-out true-up
Other net (income) loss -11 36
Changes in assets and
liabilities, net
of effects of acquired
and divested
companies:
Accounts and notes -67 -266
receivable
Inventories -49 -42
Accounts payable 107 33
Other assets and -6 96
liabilities, net
Cash provided by
operating activities - $ 1,042 $ 473
continuing operations
Investing Activities
Capital expenditures -249 -246
Proceeds and adjustments
to proceeds
from sales of 1,159 —
businesses, net of cash
divested
Acquisitions of property
and businesses, — -61
net of cash acquired
Other investing 10 4
activities, net
Cash provided by (used
for) investing $ 920 $ -303
activities - continuing
operations
Financing Activities
Changes in short-term -60 —
borrowings
Purchases of common
stock and forward -611 —
contracts
Proceeds from issuance 111 15
of Company stock
Employee taxes paid for
share-based -24 -22
payment arrangements
Distributions to
noncontrolling -11 -8
interests
Dividends paid to -243 -515
stockholders
Other financing -4 -8
activities, net
Cash used for financing
activities - $ -842 $ -538
continuing operations
Cash Flows from
Discontinued Operations
Cash (used for) provided
by operating -210 868
activities -
discontinued operations
Cash used for investing
activities - -6 -276
discontinued operations
Cash (used for) provided
by financing -3 1,687
activities -
discontinued operations
Cash (used in) provided
by discontinued $ -219 $ 2,279
operations
Effect of exchange rate
changes on cash, -2 23
cash equivalents and
restricted cash
Increase in cash, cash
equivalents and $ 899 $ 1,934
restricted cash
Cash, cash equivalents
and restricted
cash from continuing 757 1,834
operations,
beginning of period
Cash, cash equivalents
and restricted
cash from discontinued 3 58
operations,
beginning of period
Cash, cash equivalents
and restricted $ 760 $ 1,892
cash at beginning of
period
Cash, cash equivalents
and restricted
cash from continuing 1,659 3,779
operations, end of
period
Cash, cash equivalents
and restricted
cash from discontinued — 47
operations, end
of period
Cash, cash equivalents
and restricted $ 1,659 $ 3,826
cash at end of period
11
DuPont de Nemours, Inc.
Select Segment Information and Non-GAAP Measures
Net
Sales In Three Sep Nine Sep
by milli… Months Sep 30, 30, Months 30, Sep 30,
Segm… (Unau… Ended 2026 2025 Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Heal…
& $ 865 $ 832 $ 2,527 $ 2,412
Water
Tech…
Dive… 1,003 963 2,841 2,744
Indu…
Total $ 1,868 $ 1,795 $ 5,368 $ 5,156
Three Months
Net Sales Ended
Variance by September 30,
Segment 2026
──────────────────────────────────────────────────────────────────────────────
Organic Currency Portfolio / Total
Sales Other
Percent
change from
prior year
(Unaudited)
Healthcare
& Water 4 % — % — % 4 %
Technologi…
Diversified 5 -1 — 4
Industrials
Total 5 % -1 % — % 4 %
Nine Months
Net Sales Ended
Variance by September 30,
Segment 2026
──────────────────────────────────────────────────────────────────────────────
Organic Currency Portfolio / Total
Sales Other
Percent
change from
prior year
(Unaudited)
Healthcare &
Water 4 % 1 % — % 5 %
Technologies
Diversified 3 1 — 4
Industrials
Total 3 % 1 % — % 4 %
Oper… In Three Sep Nine Sep
EBIT… milli… Months Sep 30, 30, Months 30, Sep 30,
Segm… (Unau… Ended 2026 2025 Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Heal…
& $ 263 $ 246 $ 765 $ 717
Water
Tech…
Dive… 242 219 655 603
Indu…
Corp… -36 -29 -89 -101
Total $ 469 $ 436 $ 1,331 $ 1,219
1. Corporate includes expenses of the Corporate function not allocated to
specific business in the Company.
12
DuPont de Nemours, Inc.
Selected Financial Information and Non-GAAP Measures
Reco…
of
"Inc…
from
cont…
oper…
net
of
tax"
to In Three Sep Nine Sep
"Ope… milli… Months Sep 30, 30, Months 30, Sep 30,
EBIT… (Unau… Ended 2026 2025 Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Inco…
from
cont…
oper… $ 171 $ 102 $ 512 $ 206
net
of
tax
(GAA…
+
Prov…
for
inco… 108 -11 214 60
taxes
on
cont…
oper…
Inco…
from
cont…
oper… $ 279 $ 91 $ 726 $ 266
befo…
inco…
taxes
+
Depr… 155 162 464 488
and
amor…
'-
Inte… 27 17 61 52
inco…
2
'+
Inte… 40 84 121 250
expe…
'-
Non-…
pens… -2 — -3 2
bene…
(cos…
cred…
'-
Fore…
exch… 6 -12 20 -29
gains
(los…
net1
+
Futu…
Reim… — 25 8 75
Indi…
Costs
+
Corp…
DDOB 4 3 14 8
Reme…
Costs
-
Sign… -22 -76 -76 -157
items
char…
Oper…
EBIT… $ 469 $ 436 $ 1,331 $ 1,219
(non…
1. Included in "Sundry income (expense) - net".
2. The nine months ended September 30, 2026 and 2025 excludes accrued interest
income earned on employee retention credits. The three and nine months ended
September 30, 2025 excludes interest earned on cash held in escrow associated
with the Qnity financing. Refer to details of significant items on page 14.
3. The three and nine months ended September 30, 2025 excludes interest rate
swap basis amortization. Refer to details of significant items on page 14.
Reco…
of
"Cash
prov…
by
oper…
acti…
-
cont…
oper…
to
Adju…
Free
Cash
Flow…
Tran…
Free
Cash
Flow…
calc…
of
"Adj…
Free
Cash
Flow
Conv…
and
"Tra…
Free
Cash In Three Sep Sep Nine Sep Sep
Flow milli… Months 30, 30, Mont… 30, 30,
Conv… (Unau… Ended 2026 2025 Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Cash
prov…
by
oper… $ 410 $ 322 $ 1,042 $ 473
acti…
(GAA…
cont…
oper…
Capi… -71 -74 -249 -246
expe…
Adju…
free
cash $ 339 $ 248 $ 793 $ 227
flow
(non…
Sepa…
tran…
cost 2 98 21 234
and
other
paym…
Tran…
free
cash $ 341 $ 346 $ 814 $ 461
flow
(non…
Adju…
earn… $ 282 $ 180 $ 765 $ 511
(non…
Adju…
free
cash 120 % 138 % 104 % 44 %
flow
conv…
(non…
Tran…
free
cash 121 % 192 % 106 % 90 %
flow
conv…
(non…
1. Adjusted Free Cash Flow and Transaction-Adjusted Free Cash Flow are
calculated on a continuing operations basis for all periods presented. Refer to
the definitions of Non-GAAP metrics on pages 7-8 for additional information.
2. Refer to the Consolidated Statement of Cash Flows included in the schedules
above for major GAAP cash flow categories as well as further detail relating to
the changes in "Cash provided by operating activities - continuing operations"
for the nine month periods noted.
3. Other payments for the three months ended September 30, 2026 includes $2
million related of separation-related capital expenditures. Other payments for
the nine months ended September 30, 2026 includes $7 million of separation-
related capital expenditures, $6 million related to restructuring and short-term
incentive program payments associated with former senior leadership, and $8
million for Future Reimbursable Indirect Costs (as defined in our Non-GAAP
definitions).
4. Refer to page 14 for the Non-GAAP reconciliations of Net income from
continuing operations available for DuPont common stockholders to Adjusted
Earnings (Non-GAAP).
13
DuPont de Nemours, Inc.
Selected Financial Information and Non-GAAP Measures
Significa…
Items
Impacting
Results
for
the Three
Months
Ended
September
30,
2026
──────────────────────────────────────────────────────────────────────────────
In
millions, Income
except per Pretax1 Net Income2 EPS3 Statement
share Classifica…
amounts
(Unaudite…
Reported
earnings $ 279 $ 168 $ 1.24
(GAAP)
Less:
Significa…
items
Acquisiti… Acquisitio…
integrati… integration
& -15 -12 -0.09 and
separation separation
costs costs
Restructu… Restructur…
and asset and asset
related -6 -4 -0.03 related
charges charges -
- net net
Sundry
income
Other (expense) -
benefits -1 — -0.01 net;
(credits), Selling,
net4 general and
administra…
expenses
Provision
Income tax for income
items5 — -43 -0.31 taxes on
continuing
operations
Total
significa… $ -22 $ -59 $ -0.44
items
Less: Amortizati…
Amortizat… -68 -52 -0.38 of
of intangibles
intangibl…
Less:
Non-op Sundry
pension / -2 -1 -0.01 income
OPEB (expense) -
benefit net
costs
Less:Corp… Selling,
DDOB -4 -2 -0.02 general and
remediati… administra…
costs expenses
Adjusted
earnings $ 375 $ 282 $ 2.09
(non-GAAP)
Significa…
Items
Impacting
Results
for
the Three
Months
Ended
September
30,
2025
──────────────────────────────────────────────────────────────────────────────
In
millions, Income
except per Pretax1 Net Income2 EPS3 Statement
share Classifica…
amounts
(Unaudite…
Reported
earnings $ 91 $ 98 $ 0.70
(GAAP)
Less:
Significa…
items
Acquisiti… Acquisitio…
integrati… integration
and -62 -42 -0.30 and
separation separation
costs costs
Restructu… Restructur…
and asset and asset
related -18 -14 -0.10 related
charges charges -
- net net
Interest Sundry
rate swap -4 -2 -0.02 income
mark-to-m… (expense) -
loss6 net
Sundry
Qnity 9 7 0.05 income
financing7 (expense) -
net
Sundry
income
Other (expense) -
benefits -1 -2 -0.01 net;
(credits), Selling,
net8 general and
administra…
expenses
Provision
Income tax for income
items9 — 48 0.34 taxes on
continuing
operations
Total
significa… $ -76 $ -5 $ -0.04
items
Less: Amortizati…
Amortizat… -71 -55 -0.39 of
of intangibles
intangibl…
Less: Selling,
Future general and
reimbursa… -25 -19 -0.14 administra…
indirect expenses
costs
Less:Corp… Selling,
DDOB -3 -3 -0.02 general and
remediati… administra…
costs expenses
Adjusted
earnings $ 266 $ 180 $ 1.29
(non-GAAP)
1. Income (loss) from continuing operations before income taxes.
2. Net income (loss) from continuing operations available for DuPont common
stockholders. The income tax effect on significant items was calculated based
upon the enacted tax laws and statutory income tax rates applicable in the tax
jurisdiction(s) of the underlying non-GAAP adjustment.
3. Earnings (loss) per common share from continuing operations - diluted.
4. Includes legal costs related to personal injury cases associated with Corian®
Quartz, a product within the Diversified Industrials segment ($7 million pre-tax
cost), partially offset by benefits related to an adjustment of the Donatelle
contingent earn-out liability ($6 million pre-tax benefit).
5. Primarily reflects tax charges related to research and development expensing
election and non-tax deductible items recorded in the third quarter of 2026.
6. The three months ended September 30, 2025 includes a non-cash mark-to-market
loss related to the 2022 Swaps and 2024 Swaps and the interest settlement loss
on the 2022 Swaps. The three months ended September 30, 2025 also includes basis
amortization on the 2022 Swaps ($1 million pre-tax cost).
7. Reflects interest income earned on cash held in escrow.
8. Primarily reflects legal costs within the Healthcare & Water Technologies
segment associated with a pending intellectual property matter ($9 million pre-
tax cost), partially offset by benefits related to an adjustment of the
Donatelle contingent earn-out liability ($7 million pre-tax benefit).
9. Reflects the income tax impact of certain internal restructurings related to
the Electronics Separation.
14
DuPont de Nemours, Inc.
Selected Financial Information and Non-GAAP Measures
Signific…
Items
Impacting
Results
for
the Nine
Months
Ended
September
30, 2026
──────────────────────────────────────────────────────────────────────────────
In
millions, Income
except Pretax1 Net EPS3 Statement
per share Income2 Classific…
amounts
(Unaudit…
Reported
earnings $ 726 $ 502 $ 3.68
(GAAP)
Less:
Signific…
items
Acquisit… Acquisiti…
integrat… integrati…
& -22 -17 -0.13 and
separati… separation
costs costs
Restruct… Restructu…
and asset and asset
related -49 -40 -0.29 related
charges charges -
- net net
Sundry
income
Other (expense)
benefits - net;
(credits… -5 -3 -0.03 Selling,
net4 general
and
administr…
expenses
Provision
Income for income
tax — -28 -0.20 taxes on
items5 continuing
operations
Total
signific… $ -76 $ -88 $ -0.65
items
Less: Amortizat…
Amortiza… -204 -157 -1.15 of
of intangibl…
intangib…
Less:
Non-op Sundry
pension / -3 -2 -0.02 income
OPEB (expense)
benefit - net
costs
Less: Selling,
Future general
reimburs… -8 -6 -0.04 and
indirect administr…
costs expenses
Less:Cor… Selling,
DDOB general
remediat… -14 -10 -0.07 and
costs administr…
expenses
Adjusted
earnings $ 1,031 $ 765 $ 5.61
(non-GAA…
Signific…
Items
Impacting
Results
for
the Nine
Months
Ended
September
30, 2025
──────────────────────────────────────────────────────────────────────────────
In
millions, Income
except Pretax1 Net Income2 EPS3 Statement
per share Classific…
amounts
(Unaudit…
Reported
earnings $ 266 $ 200 $ 1.43
(GAAP)
Less:
Signific…
items
Acquisit… Acquisiti…
integrat… integrati…
and -167 -131 -0.93 and
separati… separation
costs costs
Restruct… Restructu…
and asset and asset
related -57 -46 -0.33 related
charges charges -
- net net
Sundry
Interest income
rate swap 46 37 0.26 (expense)
mark-to-… - net;
gain6 Interest
expense
Sundry
Qnity 9 7 0.05 income
financin… (expense)
- net
Other Sundry
benefits 12 9 0.07 income
(credits… (expense)
net8 - net
Provision
Income for income
tax — 46 0.32 taxes on
items9 continuing
operations
Total
signific… $ -157 $ -78 $ -0.56
items
Less: Amortizat…
Amortiza… -220 -172 -1.23 of
of intangibl…
intangib…
Less:
Non-op Sundry
pension / 2 2 0.01 income
OPEB (expense)
benefit - net
credits
Less: Selling,
Future general
reimburs… -75 -58 -0.41 and
indirect administr…
costs expenses
Less:Cor… Selling,
DDOB general
remediat… -8 -5 -0.03 and
costs administr…
expenses
Adjusted
earnings $ 724 $ 511 $ 3.65
(non-GAA…
1. Income (loss) from continuing operations before income taxes.
2. Net income (loss) from continuing operations available for DuPont common
stockholders. The income tax effect on significant items was calculated based
upon the enacted tax laws and statutory income tax rates applicable in the tax
jurisdiction(s) of the underlying non-GAAP adjustment.
3. Earnings (loss) per common share from continuing operations - diluted.
4. Reflects legal costs associated with personal injury cases associated with
Corian® Quartz, a product within the Diversified Industrials segment ($18
million pre-tax cost) and legal costs within the Healthcare & Water Technologies
segment associated with a pending intellectual property matter ($10 million pre-
tax cost), partially offset by benefits related to an adjustment of the
Donatelle contingent earn-out liability ($20 million pre-tax benefit) and the
accrued interest earned on employee retention credits ($3 million pre-tax
benefit).
5. Primarily reflects tax charges related to research and development expensing
election and non-tax deductible items recorded in the third quarter of 2026,
offset by a discrete tax benefit relating to a change in tax classification of a
non-U.S. legal entity in the first quarter of 2026.
6. The nine months ended September 30, 2025 includes non-cash mark-to-market
gain related to the 2022 Swaps and 2024 Swaps offset by the interest settlement
loss on the 2022 Swaps. The nine months ended September 30, 2025 also includes
basis amortization on the 2022 Swaps ($2 million pre-tax cost).
7. Reflects interest income earned on cash held in escrow.
8. Primarily reflects benefits related to an adjustment of the Donatelle
contingent earn-out liability ($19 million pre-tax benefit) and the accrued
interest earned on employee retention credits ($6 million pre-tax benefit),
partially offset by legal costs within the Healthcare & Water Technologies
segment associated with a pending intellectual property matter ($14 million pre-
tax cost).
9. Reflects the income tax impact of certain internal restructurings related to
the Electronics Separation.
15