DuPont (DD) Opens New Kalrez Manufacturing Site in Delaware
DuPont de Nemours, Inc. DD announced the official launch of its DuPont Kalrez production site in Newark, DE, in order to address expanding global customer demand in the semiconductor and industrial sectors.
The new Tralee Park Annex facility will significantly increase DuPont Kalrez perfluoroelastomer components capacity. In addition, the site includes a high-end ISO Class 6 Cleanroom, improved production equipment, an optimized facility architecture and space to enable future business expansion. DuPont Kalrez elastomers are intended to provide greater stability, resistance and effective sealing in applications ranging from chemical processing to semiconductor chip fabrication.
In addition to increased capacity, the Tralee Park Annex offers faster cycle times and enlarged facilities for finishing, inspection, packaging and shipping, which will support increased capacity for clients worldwide.
The location is expected to create about 50 jobs in operations, maintenance, engineering and continuous improvement, many of which are STEM-related and crucial to safe manufacturing operations.
Shares of DuPont have lost 13.4% over the past year against a 9% 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 roughly $12,170 million. Adjusted earnings per share for 2023 are forecast to be around $3.45. Also, Operating EBITDA for 2023 is expected to be about $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, DD noted.
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 Equinox Gold Corp. EQX, Koppers Holdings Inc. KOP and The Andersons Inc. ANDE.
Equinox has a projected earnings growth rate of 90% for the current year. It currently carries a Zacks Rank #2. Equinox delivered a trailing four-quarter earnings surprise of roughly 18.1%, on average. The stock is up around 58.7% in a year. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Koppers has a projected earnings growth rate of 7.5% for the current year. It currently carries a Zacks Rank #2. Koppers delivered a trailing four-quarter earnings surprise of roughly 21.7%, on average. The stock is up around 32% in a year.
Andersons currently carries a Zacks Rank #1. The stock has gained roughly 39.5% 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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