DuPont (DD) Attains Full Conversion to Low-GWP Styrofoam
DuPont de Nemours Inc. DD said that all Styrofoam Brand XPS insulation manufacturing sites in North America now produce a low global warming potential (GWP) formulation, decreasing embodied carbon by 94% and distinguishable by a shift from the original blue to the new grey color.
This new insulation maintains the market-required moisture resistance and thermal performance parameters of Styrofoam Brand XPS. In addition to much lower embodied carbon, this new Styrofoam Brand XPS insulation provides consumers with a variety of benefits, including LEED v4.1 LCA Optimization credit.
This award-winning product personifies the spirit of creativity. The company's joint efforts have considerably reduced the carbon footprint of its Styrofoam portfolio, allowing it to better serve its consumers and communities while also protecting the environment, DD noted.
The new low-GWP Styrofoam Brand XPS Insulation builds on the strengths of more than 80 years of technical innovation. It is already created with 100% renewable electricity and a zero-ozone-depleting formula, and it maintains a minimum R-value of R-5 per inch of thickness for long-term thermal performance.
Additionally, the new formulation has already received honors for sustainable innovation, including the 2023 American Chemistry Council Sustainability Leadership Award in the category of Environmental Protection. The Styrofoam Brand Plazamate XR insulation, which has the best thermal resistance per inch of any XPS roofing insulation, also got a 2023 R&D 100 Award.
Shares of DuPont have lost 0.1% over the past year against a 16.4% decline of its industry.
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The company, on its third-quarter call, said that it now sees net sales for 2023 to be around $12,170 million. Adjusted earnings per share for the year are forecast to be about $3.45. Operating EBITDA for 2023 is expected to be roughly $2,975 million.
For the fourth quarter, demand for consumer electronics is anticipated to remain in line with the third quarter, as indicated by consistent order rates from customers. This will likely result in a sequential sales improvement in the Semiconductor Technologies segment. However, compared with the previous guidance, there are additional challenges stemming from channel inventory destocking and decreased industrial water 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 #3 (Hold).
Better-ranked stocks in the basic materials space include Denison Mines Corp. DNN, Axalta Coating Systems Ltd. AXTA and The Andersons Inc. ANDE.
Denison Mines has a projected earnings growth rate of 100% for the current year. It currently carries a Zacks Rank #1 (Strong Buy). DNN delivered a trailing four-quarter earnings surprise of roughly 225%, on average. The stock is up around 42.7% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axalta has a projected earnings growth rate of 5.4% for the current year. It currently carries a Zacks Rank #1. AXTA delivered a trailing four-quarter earnings surprise of roughly 6.7%, on average. The stock is up around 15.7% in a year.
Andersons currently carries a Zacks Rank #2. The stock has gained roughly 28.2% in the past year. ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average.
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