DuPont (DD) Develops GWP Product to Lower GHG Emissions
DuPont de Nemours, Inc. DD announced the phased launch of a reduced global warming potential (“GWP”) Styrofoam brand insulation in support of its commitment to lower greenhouse gas (“GHG”) emissions, while fostering sustainable innovation.
Notably, starting from Jan 1, 2021, the Styrofoam Brand Insulation family of products is expected to comprise of lower GWP alternatives, advancing DuPont’s 2030 Sustainability Goals as well as adhering with state and provincial hydrofluorocarbon regulations across the United States and Canada.
Further, with the latest Styrofoam innovation, the company aims to incorporate a decline in embodied carbon in an updated Environmental Product Declaration, which will be available with the new products.
Notably, the new GWP product, is expected to first launch in states of the United States and Canada, that have adopted hydrofluorocarbon regulations as of Apr 1, 2020, with plans to expand the product offerings moving ahead.
DuPont’s shares have lost 24.3% in the past year compared with the 5.7% decline recorded by the industry.
On its first-earnings call, the company said that it is witnessing strength across personal protection, water filtration, food and beverage, electronics, and probiotics markets. However, it is seeing weakness in automotive, oil and gas, and certain industrial end markets. The company is taking actions to improve its cost structure, strengthen its liquidity and optimize working capital amid the coronavirus outbreak-induced crisis.
DuPont now sees $180 million of savings in 2020 from its earlier announced incremental cost actions. It also implemented actions to mitigate the impact of the coronavirus pandemic. These include actions to deliver more than $500 million of working capital improvement and the reduction of capital expenditure by roughly $500 million from the prior-year figure.
DuPont de Nemours, Inc. Price and Consensus
Zacks Rank & Stocks to Consider
The company currently carries a Zacks Rank #3 (Hold).
Royal Gold has a projected earnings growth rate of 62.1% for the current year. The company’s shares have gained 9.5% in a year. It currently has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Sandstorm Gold has a projected earnings growth rate of 55.6% for the current year. The stock has surged around 49% in a year. It currently has a Zacks Rank of 2 (Buy).
Harmony Gold has an expected earnings growth rate of 264.3% for 2020. The company’s shares have rallied 157.8% in the past year.It is presently a Zacks #2 Ranked player.
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