DowDuPont's completed merger should add value to shareholders.
DowDuPont reported first-quarter EBITDA of $4.9 billion, up 6% year on year on a pro forma basis. Strong growth in many of the materials science and specialty products segments was partially offset by lower profits in the agriculture segment from delayed U.S. farmer planting. Having increased our near-term profit outlook, our fair value estimate rises to $64 per share from $63. Our long-term outlook and narrow moat are intact.In the agriculture segment, EBITDA fell 29% to $891 million from the ...
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