Electronics & Industrial net sales increased 13% year-over-year, while Water & Protection net sales decreased 2%. The company is focusing on the separation of its Electronics and Water businesses into independent publicly traded companies.

The acquisition of Spectrum in August 2023 and Donatelle Plastics in July 2024 contributed to portfolio growth in the Electronics & Industrial segment. The company continues to integrate these acquisitions.

DuPont repurchased 6.9 million shares at an average price of $71.96 per share under the Q1 2024 ASR Transaction. The company's Board of Directors approved a new share repurchase program authorizing the repurchase and retirement of up to $1 billion of common stock.

The company approved targeted restructuring actions to capture near-term cost reductions due to macroeconomic factors and to further simplify certain organizational structures following the Spectrum acquisition and Delrin Divestiture. Restructuring and asset related charges - net were $21 million.

During the first quarter of 2024, the realignment of the businesses within Electronics & Industrial served as a triggering event requiring the Company to perform an impairment analysis related to goodwill carried by certain reporting units. No impairments were identified.

DuPont issued a notice of redemption to the bond trustee with respect to a partial redemption of $650 million aggregate principal amount of its 2038 notes. The company funded the repayment with cash on hand.

The success of the Intended Business Separations ultimately depends on, among other things, DuPont's ability to internally separate the Electronics and Water businesses in a manner that facilitates the Intended Business Separations on a U.S. federal income tax-free basis.

If either distribution, together with certain related transactions, were to fail to qualify for non-recognition treatment for U.S. federal income tax purposes, then DuPont could be subject to significant tax liability.

The company is engaged in various lawsuits, claims and environmental actions that have arisen in the normal course of business with respect to product liability, patent infringement, governmental regulation, contract and commercial litigation, as well as possible obligations to investigate and mitigate the effects on the environment of the disposal or release of certain substances at various sites.

The Electronics & Industrial segment is a leading global supplier of differentiated materials and systems for a broad range of consumer electronics including mobile devices, television monitors, personal computers and electronics used in a variety of industries.

Water & Protection net sales were $1,382 million for the three months ended September 30, 2024, down 2 percent from $1,413 million for the three months ended September 30, 2023 due to a 2 percent decline in local price and product mix primarily from Safety Solutions.

The portfolio impact reflects the August 2023 acquisition of Spectrum and the July 2024 acquisition of Donatelle Plastics. The unfavorable currency impact is primarily driven by the Japanese yen.

Operating EBITDA was $364 million for the three months ended September 30, 2024, up 1 percent compared with $362 million for the three months ended September 30, 2023, as productivity and savings from restructuring actions as well as the impact of lower product costs were mostly offset by higher variable compensation.

In December 2023, the Company approved targeted restructuring actions to capture near-term cost reductions due to macroeconomic factors as well as to further simplify certain organizational structures following the Spectrum acquisition and Delrin Divestiture.

In connection with the 2023-2024 Restructuring Program, the Company recorded $2 million and $26 million of inventory write-offs in “Cost of Sales” within the interim Consolidated Statements of Operations for the three and nine months ended September 30, 2024.

R&D expenses totaled $134 million in the third quarter of 2024, up from $128 million in the third quarter of 2023. R&D as a percentage of net sales was consistent period over period at 4 percent.

Within Semiconductor Technologies, volume gains were driven by continued semiconductor demand recovery, primarily due to artificial intelligence (AI) technology applications and increased demand in China.

Broad based volume growth in Interconnect Solutions driven by consumer electronics market recovery and demand from Al driven technology was partially offset by local price and product mix declines, including the impact of lower pass-through metals.

DuPont repurchased 6.9 million shares at an average price of $71.96 per share under the Q1 2024 ASR Transaction. The company's Board of Directors approved a new share repurchase program authorizing the repurchase and retirement of up to $1 billion of common stock.

In the first nine months of 2024, cash used for investing activities of continuing operations was $725 million, compared with $919 million in the first nine months of 2023. The decrease in cash used for investing activities of continuing operations is primarily attributable to the decline of cash going towards acquisition of property and businesses partially offset by the absence of proceeds from sales and maturity of investments.

On October 16, 2024, the Board of Directors declared a fourth quarter 2024 dividend of $0.38 per share, payable on December 16, 2024, to shareholders of record on November 29, 2024.

The Company is engaged in various lawsuits, claims and environmental actions that have arisen in the normal course of business with respect to product liability, patent infringement, governmental regulation, contract and commercial litigation, as well as possible obligations to investigate and mitigate the effects on the environment of the disposal or release of certain substances at various sites.

In November 2023, DuPont, Chemours and Corteva (for itself and EIDP) reached a settlement agreement with the State of Ohio designed to benefit Ohio's natural resources and the people of the State of Ohio.

On January 22, 2021, the Company, Corteva, EIDP and Chemours entered into the MOU pursuant to which the parties have agreed to release certain claims that had been raised by Chemours including any claims arising out of or resulting from the process and manner in which EIDP structured or conducted the Chemours Separation, and any other claims that challenge the Chemours Separation or the assumption of Chemours Liabilities.

The Company anticipates year-over-year volume improvement throughout the remainder of the year driven by continued electronics market recovery as well as reduced destocking impact in areas such as water, medical packaging and biopharma.

The Company continues to closely monitor macroeconomic as well as geopolitical developments.

Currency was down 1 percent compared with the same period last year driven by most regions. The unfavorable currency impact is primarily driven by the Japanese yen, and Chinese yuan, partially offset by the Euro.