Q 10-Q Quarterly Reports

Qnity Electronics Quarterly Report for Q3 Ended Sep 30, 2026

Qnity Electronics Quarterly Report for Q2 Ended Jun 30, 2026

Qnity Electronics, Inc. reported second-quarter 2026 net sales of $1.43 billion, up from $1.17 billion a year earlier, driven primarily by a 23% increase in volume. Growth was led by Interconnect Solutions (net sales up 30% to $685 million) and Semiconductor Technologies (up 16% to $744 million), with management attributing demand strength to AI-driven applications. Net income fell to $136 million from $198 million, and diluted earnings per share were $0.59 versus $0.90, as higher transformation, integration and other charges ($42 million vs. $2 million), interest expense of $61 million (no comparable expense in the prior year, following the October 2025 separation from DuPont), and a higher effective tax rate of 31.7% weighed on results. For the six months ended June 30, 2026, net sales were $2.74 billion, up 20%, and cash provided by operating activities was $376 million, compared with $480 million a year earlier. Cash and cash equivalents were $961 million at June 30, 2026, and total debt was $4,020 million. The company repurchased $50 million of common stock during the first half under a $500 million authorization, with $450 million remaining, and paid quarterly dividends of $0.08 per share. Management reports it was in compliance with all debt covenants. Subsequent to quarter-end, on July 1, 2026, Qnity amended its Senior Secured Term Loan Facility, reducing the applicable margin on term SOFR borrowings from 2.00% to 1.75%; the company expects this to reduce annual cash interest expense by approximately $6 million. The filing also describes indemnification liabilities owed to DuPont tied to legacy matters, including a North Carolina litigation accrual, which increased the effective tax rate in the quarter.

Qnity Electronics Quarterly Report for Q1 Ended Mar 31, 2026

Qnity Electronics, Inc. (Q) reported first-quarter 2026 net sales of $1.315 billion, up 18% from $1.118 billion in the first quarter of 2025, driven by a 17% increase in volume. Growth was led by Interconnect Solutions, with net sales up 25% to $593 million, and Semiconductor Technologies, up 12% to $722 million. The filing attributes demand strength to AI-driven applications, advanced packaging, high bandwidth memory and AI PCB and thermal management. Segment Adjusted Operating EBITDA rose to $432 million from $361 million. Profitability was mixed below the sales line. Net income attributable to Qnity common stockholders was $151 million, down from $193 million, and diluted EPS was $0.72 versus $0.92. The decline reflected $61 million of interest expense, which was absent in the prior-year period because the company had no long-term debt then, and an effective tax rate of 25.7% versus 19.1%. Transformation, integration and other charges rose to $28 million from $17 million, mainly IT independence costs of about $24 million. Cash flow and capital allocation remained solid. Operating cash flow was $135 million versus $207 million, which management attributed primarily to interest payments on long-term debt. Capital expenditures were $122 million. Cash and cash equivalents ended the quarter at $857 million, and long-term debt was $4.00 billion. The company repurchased $25 million of stock under a $500 million authorization approved in February 2026, leaving $475 million available, and declared a quarterly dividend of $0.08 per share payable June 15, 2026.

Qnity Electronics Quarterly Report for Q3 Ended Sep 30, 2025

Qnity Electronics, Inc. filed this Form 10-Q for the quarter ended September 30, 2025, following its separation from DuPont de Nemours, Inc. The Distribution was completed on November 1, 2025, and Qnity began trading on the New York Stock Exchange under the symbol "Q" on November 3, 2025. The statements are combined carve-out financials derived from DuPont's accounting records. For the nine months ended September 30, 2025, net sales were $3.56 billion, up from $3.23 billion, and net income was $620 million, compared with $503 million a year earlier. Net income available for common stockholders was $592 million, or $2.83 per share, versus $2.30 per share in the prior-year period. Segment Operating EBITDA for the nine months was $713 million in Semiconductor Technologies and $403 million in Interconnect Solutions. The balance sheet changed substantially in connection with the Separation. Long-term debt was $1.72 billion at September 30, 2025, following $1.75 billion of notes issued in August 2025. After quarter-end, on October 31, 2025, Qnity entered into a credit agreement with a $1.25 billion revolving facility and a $2.35 billion term loan, which was fully funded and paid to DuPont as a cash dividend. The company states it has incurred aggregate indebtedness of $4.1 billion as of October 31, 2025. The filing also discloses that legacy liabilities allocated to Qnity under the separation agreements are expected to be material, will be finalized, and will be reflected as liabilities on the December 31, 2025 balance sheet. These include an expected $75 million indemnification liability for future Qualified Spend under the Memorandum of Understanding, a New Jersey settlement allocation, and other environmental and legacy amounts. Management estimates approximately $180 million in one-time costs over two years to establish stand-alone information technology systems. Management also says it expects its cash flows, existing borrowings, and capital market access to provide adequate liquidity for at least the next 12 months. The company declared a quarterly dividend of $0.06 per share on November 12, 2025, payable December 15, 2025.