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AI核心结论
DuPont de Nemours (DD) delivered a strong Q1 2026 turnaround with net income of $161M versus a loss of $589M a year ago, driven by 4.3% revenue growth to $1.68B and a dramatically cleaner balance sheet following significant asset divestitures.
营业收入
$1.68B
同比 ++4.28%
每股收益（基本）
$0.39
同比 ++127.66%
提交于 · 来源: SEC EDGAR 10-Q 原文
DuPont de Nemours (DD) Q1 FY2026 营收 $1.68B，同比增长 4.3%。 净利润 $161M，稀释每股收益 $0.39。
Revenue increased 4.3% year-over-year to $1.68B in Q1 2026 from $1.61B in Q1 2025, suggesting steady demand across DD's core business segments despite macroeconomic headwinds.
来源: Source: 10-Q Income Statement
Net income surged to $161M in Q1 2026 compared to a net loss of $589M in Q1 2025, a year-over-year improvement of approximately $750M, reflecting the absence of prior-year charges and improved operational efficiency.
来源: Source: 10-Q Income Statement
Cost of revenue rose only 0.9% YoY to $1.08B despite a 4.3% revenue increase, indicating improving gross-level efficiency and favorable product mix or pricing power.
来源: Source: 10-Q Income Statement
Total assets declined 40.4% YoY to $21.45B from $35.98B, and total liabilities fell 43.3% to $7.21B, strongly suggesting major asset divestitures or spin-offs completed over the past year that have reshaped the company's footprint.
来源: Source: 10-Q Balance Sheet
Selling, general and administrative expenses rose 9.0% YoY to $255M, outpacing revenue growth of 4.3%, which could pressure operating margins if this trend continues into subsequent quarters.
来源: Source: 10-Q Income Statement
Total assets declined by over $14.5B YoY (down 40.4%), and stockholders' equity fell 38.5% to $14.04B. While this reflects strategic portfolio reshaping, the significantly smaller asset base reduces the company's scale and diversification, potentially increasing earnings volatility.
来源: Source: 10-Q Balance Sheet
Cash and equivalents dropped 59.7% YoY to $710M from $1.76B, a reduction of over $1B. This tighter liquidity position could limit DD's flexibility for acquisitions, debt repayment, or weathering unexpected operational disruptions.
来源: Source: 10-Q Balance Sheet
SG&A expenses grew 9.0% YoY versus revenue growth of only 4.3%, creating margin compression risk at the operating level. Sustained cost inflation in selling and administrative functions could erode profitability if not offset by revenue acceleration.
来源: Source: 10-Q Income Statement
Current liabilities fell dramatically by 54.6% YoY to $2.10B, while current assets declined only 12.7% to $5.64B, yielding a current ratio of 2.68. While this appears healthy, the sharp reduction in current liabilities may reflect the settlement of obligations tied to divested businesses, and the ongoing working capital profile of the remaining entity needs close monitoring.
来源: Source: 10-Q Balance Sheet
R&D expenses declined 6.0% YoY to $47M, which in a specialty materials and science-driven business could signal reduced investment in innovation pipelines. Sustained underinvestment in R&D relative to peers may weaken DD's competitive positioning over the medium term.
来源: Source: 10-Q Income Statement
Q1 FY2026 实际 EPS $1.65，分析师一致预期 $1.49，超预期 +10.4%。
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
营业收入 | $1.68B | $1.61B | +4.28% |
营业成本 | $1.08B | $1.07B | +0.94% |
净利润 | $161M | $-589M | +127.33% |
每股收益（基本） | $0.39 | $-1.41 | +127.66% |
每股收益（稀释） | $0.39 | $-1.40 | +127.86% |
研发费用 | $47M | $50M | -6.00% |
销售及管理费用 | $255M | $234M | +8.97% |
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
总资产 | $21.45B | $35.98B | -40.39% |
流动资产 | $5.64B | $6.46B | -12.70% |
总负债 | $7.21B | $12.71B | -43.28% |
流动负债 | $2.1B | $4.63B | -54.60% |
股东权益 | $14.04B | $22.83B | -38.51% |
现金及等价物 | $710M | $1.76B | -59.70% |
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
折旧及摊销 | $155M | $160M | -3.13% |
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
净利率 | 9.6% | — | — |
净资产收益率 | 1.1% | — | — |
总资产收益率 | 0.8% | — | — |
流动比率 | $2.683 | — | — |
资产负债率 | $0.514 | — | — |
DuPont reported diluted EPS of $0.39 in Q1 2026, a dramatic improvement from -$1.40 in Q1 2025. While specific analyst consensus estimates are not available in this filing, the return to profitability and 127.9% YoY EPS improvement represents a strong fundamental result.
DD's Q1 2026 highlights include revenue growth of 4.3% to $1.68B, a net income turnaround to $161M from a $589M loss, and a significantly leaner balance sheet with total assets down 40.4% YoY to $21.45B reflecting major divestitures. Cost of revenue was well-controlled at +0.9% growth, though SG&A rose 9.0%, slightly outpacing revenue growth.
DuPont's revenue grew 4.3% year-over-year to $1.68B in Q1 2026, up from $1.61B in Q1 2025. This growth was achieved while cost of revenue increased by only 0.9%, suggesting improved gross-level profitability on the incremental revenue.
DD's financial health appears solid with a current ratio of 2.68, debt-to-equity of 0.51, and a return to net profitability with a 9.6% net margin. However, cash balances declined sharply by 59.7% YoY to $710M, which is worth monitoring for future capital allocation flexibility.
DuPont's total assets fell 40.4% YoY to $21.45B from $35.98B, and total liabilities declined 43.3%, strongly indicating that the company completed significant divestitures or business spin-offs over the past year. This balance sheet contraction is consistent with DD's known strategic portfolio restructuring efforts to focus on core specialty materials businesses.