DuPont (DD) Partners Menatek in the Global Bearing Market
DuPont de Nemours, Inc. DD and Menatek Defense Technologies have announced an agreement to collaborate for NAZ Bearings, a novel bearing that is self-lubricating and requires no maintenance.
This deal integrates DuPont's ability to provide custom material solutions for wear and friction resistance, reliability in extreme conditions and lightweighting with Menatek's design and manufacturing capabilities. This results in a superior bearing capable of delivering ultra-high performance under heavy static and dynamic loads. Self-lubricating bearings are one of the obstacles overcome by the Menatek group in partnership with DuPont, thanks to bearing liner technology that eliminates maintenance and considerably increases bearing lifetime.
This partnership will strengthen DuPont's leadership position in the industry and allow it to deliver greater value to its consumers globally. The partnership enables both firms to offer a wide range of products to consumers in the defense, aerospace, high-speed train, tram, metro, wind turbine and industrial markets. Through combined R&D and smart marketing initiatives, both firms will continue to provide clients with next-generation bearing technologies.
Shares of DuPont have gained 6.6% over the past year against a 4.5% decline of its industry.
Image Source: Zacks Investment Research
The company, on its fourth-quarter call, said that it expects net sales for 2024 to be $11,900-$12,300 million. Adjusted earnings per share for 2024 is forecast to be $3.25-$3.65.
For first-quarter 2024, the company expects net sales of roughly $2,800 million. Adjusted earnings per share for the quarter is projected in the range of 63-65 cents.
DuPont expects a sequential decline in sales and earnings in the first quarter driven by additional channel inventory de-stocking within its industrial-based businesses and continued weak demand in China.
DuPont de Nemours, Inc. Price and Consensus
DuPont de Nemours, Inc. price-consensus-chart | DuPont de Nemours, Inc. Quote
Zacks Rank & Key Picks
DuPont currently carries a Zacks Rank #4 (Sell).
Better-ranked stocks in the basic materials space include Denison Mines Corp. DNN, Carpenter Technology Corporation CRS and Hawkins, Inc. HWKN.
Denison Mines carrying a Zacks Rank #1 (Strong Buy). DNN beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 300%. The company’s shares have soared 85.3% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have soared 63.1% in the past year.
The Zacks Consensus Estimate for Hawkins’ current fiscal year earnings is pegged at $3.61 per share, indicating a year-over-year rise of 26.2%. The Zacks Consensus Estimate for HWKN’s current-year earnings has been revised 4.3% upward in the past 30 days. HWKN, a Zacks Rank #2 (Buy) stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have rallied roughly 81.3% in the past year.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
DuPont de Nemours, Inc. (DD) : Free Stock Analysis Report
Carpenter Technology Corporation (CRS) : Free Stock Analysis Report
Denison Mine Corp (DNN) : Free Stock Analysis Report
Hawkins, Inc. (HWKN) : Free Stock Analysis Report
