DD - DuPont de Nemours Inc. (DD) Barclays 41st Annual Industrial Select Conference 2024 (Transcript)
2024-02-21 16:10:03 ET
DuPont de Nemours, Inc. (DD)
Barclays 41st Annual Industrial Select Conference 2024
February 21, 2024 10:55 AM ET
Company Participants
Ed Breen - Executive Chairman and CEO
Lori Koch - CFO
Conference Call Participants
Mike Leithead - Barclays
Presentation
Mike Leithead
I think we'll go ahead and get started, I think the music ended. Appreciate everybody who's covering or joining us today. My name is Mike Leithead, I Head up U.S. Chemicals and Packaging efforts here at Barclays. Really happy to have to the DuPont team here with us. Ed Breen, Chairman and CEO; Lori Koch, heads up the CFO role as well. So before we get started and dig into the Q&A, we're going to run through some of the audience response questions fairly quickly.
So if you could flip to number one. Do you currently own the stock? Yes, over rate, market rate, under rate, no? Okay. A lot of opportunity here, I think, to get some new investors. Next question. What is your general bias towards DuPont stock right now? Positive, negative, neutral? Okay, little bit of a mix right now. Next question. In your opinion, through cycle EPS growth for DuPont, will be above, in line or below peers? Okay, most people say in line. Next question. In your opinion, what should DuPont do with excess cash, bolt-on M&A, larger M&A, repos, divis, debt paydown and internal investment? Okay, it seems like share repurchase is the biggest with bolt-on M&A and internal investment number two. Next question. In your opinion, on what multiple of '24 earnings should DuPont trade, we got a range from less than 10 through higher than 21. Fortunately, we don't give Lori one up here, so she can’t [Multiple Speakers]…
Ed Breen
Yes sure, she would.
Lori Koch
Chris can…
Mike Leithead
Chris might be able to. All right. It sounds like 16 to 18 is sort of where the quorum. Last question, I believe. What do you see is the most significant share price headwind facing DuPont, core growth, margin, capital deployment or execution strategy? Okay, it seems like core growth is the winner there or the biggest focus for investors, I should say. So look, we'll go ahead and get started. Ed, Lori, I appreciate you guys joining as always, again this year. And maybe let's just kind of start off big picture kind of level set where things are. DuPont’s obviously in a lot of end markets, touched a lot of different regions. Can you maybe just do a quick tour around the world, what are you seeing, what are you hearing as we enter '24 here?...
DuPont de Nemours, Inc. (DD) Barclays 41st Annual Industrial Select Conference 2024 (Transcript)