01—Abstract
Summary
Summary of the 10-Q filed August 5, 2025. Cited figures are marked; the original filing is the authoritative source.
DuPont de Nemours, Inc. reported net sales of $3,257 milliona for the second quarter of 2025, up from $3,171 million a year earlier, and the filing states this was up 3 percent, driven by a 4 percent increase in volume.
Net income available to common stockholders was $59 millionb, or $0.14 per diluted share, compared with $178 million, or $0.42, in the second quarter of 2024. For the six months, the company posted a net loss available to common stockholders of $530 million, or $(1.27) per diluted share, primarily due to a non-cash goodwill impairment charge of $768 million related to the Aramids reporting unit in the IndustrialsCo segment. Acquisition, integration and separation costs were $154 million in the quarter and $279 million for the six months, mainly tied to the Intended Electronics Separation.
The company is targeting November 1, 2025 for the completion of the separation of its Electronics business, which the filing says Qnity Electronics, Inc. is preparing capital structure financing for. Results are now reported in two segments: ElectronicsCo, whose operating EBITDA rose 14 percent in the quarter to $373 millionc, and IndustrialsCo, whose operating EBITDA rose 3 percent to $509 million. On August 3, 2025, DuPont, Chemours and Corteva agreed to a proposed Judicial Consent Order with the State of New Jersey, carrying an aggregate cash payment of $875 million over 25 years.
DuPont's share, with a net present value of $311 milliond, led to a pre-tax charge of $177 million recorded in discontinued operations, which drove the second-quarter loss from discontinued operations of $168 million. At June 30, 2025, the company reported cash and cash equivalents of $1,837 million, total debt of $7,175 million, and working capital of $2.0 billion. Cash provided by operating activities from continuing operations was $763 million for the six months, down from $1,020 million, reflecting higher working capital needs.
The company's credit ratings were BBB+ (S&P, on watch negative), Baa1 (Moody's, negative outlook) and BBB+ (Fitch, on watch negative). The filing also flags tariff and trade-related uncertainty, including the risks tied to China, and notes that the Board declared a third-quarter 2025 dividend of $0.41 per share.
02—Key points
Key Highlights
- Second-quarter net sales of $3,257 million, up from $3,171 million, with the filing stating an increase of 3 percent; six-month net sales were $6,323 million versus $6,102 million.
- Net loss available to common stockholders for the six months was $530 million, or $(1.27) per diluted share, following a $768 million goodwill impairment in the Aramids reporting unit; second-quarter net income available to common stockholders was $59 million, or $0.14 per diluted share.
- Acquisition, integration and separation costs were $154 million in Q2 2025 and $279 million for the six months, primarily related to the Intended Electronics Separation targeted for November 1, 2025.
- Loss from discontinued operations of $168 million in Q2 2025, driven by MOU activity including a $177 million pre-tax charge tied to the New Jersey settlement ($875 million aggregate payable over 25 years; DuPont's share NPV of $311 million).
- ElectronicsCo operating EBITDA rose 14 percent to $373 million in Q2 2025, while IndustrialsCo operating EBITDA increased 3 percent to $509 million.
- Cash and cash equivalents of $1,837 million and total debt of $7,175 million at June 30, 2025; cash from continuing operations operating activities was $763 million for the six months, down from $1,020 million.
- Credit ratings were BBB+ (S&P, watch negative), Baa1 (Moody's, negative outlook) and BBB+ (Fitch, watch negative); the $0.41 quarterly dividend was declared for the third quarter of 2025.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2025filed August 5, 2025Financial Statements
Q2 FY2025 against Q2 FY2024
| Line item | Q2 FY2025Q2 FY2024 | Change |
|---|---|---|
| Revenue | $1.75B$1.72B | +1.9% |
| Cost of Revenue | $1.14B$1.13B | +1.1% |
| Gross Profit | $606.00M$586.00M | +3.4% |
| R&D Expenses | $53.00M$134.00M | −60.4% |
| SG&A Expenses | $262.00M$418.00M | −37.3% |
| Net Income | $59.00M$178.00M | −66.9% |
| EPS (Basic) | $0.42$0.43 | −2.3% |
| EPS (Diluted) | $0.42$0.43 | −2.3% |
| Shares Outstanding (Basic) | 139.60M417.80M | −66.6% |
| Shares Outstanding (Diluted) | 139.90M419.30M | −66.6% |
05—Questions
Frequently Asked Questions
Why did DuPont report a net loss for the first half of 2025?
The six-month net loss available to common stockholders of $530 million was primarily driven by a non-cash goodwill impairment charge of $768 million related to the Aramids reporting unit within the IndustrialsCo segment, recorded in the first quarter of 2025. Acquisition, integration and separation costs of $279 million for the six months and a loss from discontinued operations of $202 million also contributed.
What is the New Jersey settlement and how much will DuPont pay?
On August 3, 2025, DuPont, Chemours and Corteva agreed to a proposed Judicial Consent Order with the State of New Jersey resolving outstanding state claims related to legacy substances including PFAS. The settlement carries an aggregate cash payment of $875 million payable over 25 years, shared under the 2021 MOU. DuPont recorded a pre-tax charge of $177 million in discontinued operations, reflecting the net present value of $311 million for its estimated share. The settlement is subject to a public comment period and approval by the New Jersey federal court.
What is the status of the Intended Electronics Separation?
DuPont is targeting November 1, 2025 for completing the separation of its Electronics business. The filing states the separation will not require a shareholder vote and is subject to conditions including final Board approval, a tax opinion, the effectiveness of a Form 10 registration statement, regulatory approvals and satisfactory completion of financing. Qnity Electronics, Inc. intends to enter into secured credit facilities and issue notes before the spin-off date.
How is DuPont's liquidity and debt position?
At June 30, 2025, DuPont had cash and cash equivalents of $1,837 million, total debt of $7,175 million and working capital of $2.0 billion. Short-term borrowings were $1,849 million, including debt due within one year. The company had no commercial paper outstanding at June 30, 2025, and no drawdowns on its revolving credit facilities during the six months. Operating cash flow from continuing operations declined to $763 million from $1,020 million, due mainly to higher working capital needs.
06—Continue