DowDuPont Reports Soft 1Q Ahead of Corteva Spin; Maintaining $45 FVE With Long-Term Outlook Intact
DowDuPont reported weak first-quarter results, as delays in planting and lower volumes across most of the specialty chemicals segments weighed on profits. After updating our valuation model, we maintain our $45 per share fair value estimate and narrow moat rating for DowDuPont.ÂThe market reacted negatively to the earnings release, sending shares down nearly 7%. At current prices, we view DowDuPont as undervalued as the company prepares to spin off the agriculture company, which will be named C...
DowDuPont is a holding company comprised of The Dow Chemical Company and E. I. du Pont de Nemours and Company with a focus on forming independent, publicly traded companies in the agriculture and specialty products sectors. The company's worldwide operations are managed through global businesses and include the following reportable segments: Agriculture; Electronics and Imaging; Nutrition and Biosciences; Transportation and Advanced Polymers; and Safety and Construction.
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