DuPont (NYSE: DD) reported Q4 EPS of $0.95, in-line with the analyst estimate of $0.95. Revenue for the quarter came in at $5.2 billion versus the consensus estimate of $5.23 billion.

• Full year 2019 pro forma GAAP EPS from continuing operations of $(0.74); pro forma adjusted EPS of $3.80
• Full year 2019 pro forma operating EBITDA margins up 10 bps more than offsetting 50 bps headwind from lower equity affiliate income
• 4Q19 Net Sales of $5.2 billion, down 5 percent; organic sales down 2 percent
• 4Q19 GAAP EPS from continuing operations of $0.24; Adjusted EPS of $0.95
• More than $1.3 billion returned to shareholders since June 1 including $750 million of share repurchases
• Advanced active portfolio management strategy announcing planned merger of the Nutrition & Biosciences business with IFF to create a global leader in high-value ingredients and solutions in Food & Beverage, Home & Personal Care and Health & Wellness markets
• 2020 adjusted earnings per share guidance of $3.70 to $3.90 reflecting headwinds from prior year discrete benefits and nylon market pressures

"Our full year results demonstrate our ability to offset challenging global macro conditions by focusing on the levers within our control,\" said Marc Doyle, DuPont Chief Executive Officer. "We mitigated these headwinds through pricing and cost actions while continuing to strengthen our position in key growth areas such as water and 5G through continued innovation and investment."

"As we head into 2020, this strong internal discipline continues to be paramount as we foresee further nylon pricing declines and unfavorable nylon mix partially offsetting organic revenue growth in our other core segments," Doyle stated. "We continue to strategically reduce spending and are taking actions to consolidate our asset footprint. These steps will ensure that our costs are right-sized for the future organization and better position us for growth."

GUIDANCE:

DuPont sees FY2020 EPS of $3.70-$3.90, versus the consensus of $4.12. DuPont sees FY2020 revenue of $21.5-22 billion, versus the consensus of $21.98 billion.

"For this year, we expect full year sales between $21.5 and $22.0 billion resulting in organic sales which are slightly up versus prior year," said Jeanmarie Desmond, Chief Financial Officer of DuPont. "We expect full year adjusted EPS in the range of $3.70 - $3.90, up 3 percent to down 3 percent versus 2019 driven by lower discrete items and further headwinds in nylon pricing and mix more than offsetting strong organic growth across our other core segments and continued productivity and cost actions."

"With the nylon headwinds being most impactful at the start of the year and temporary manufacturing challenges in S&C, we are expecting first quarter net sales to be down mid-single digits with adjusted EPS in the range of $0.70 to $0.74, including a headwind from discrete items,\" Desmond stated. "Our focus on a disciplined operating model will ensure we remain diligent on cost and cash management as we progress through the year."

For earnings history and earnings-related data on DuPont (DD) click here.