DuPont de Nemours DD recently announced that it intends to launch its latest Tedlar frontsheet materials at the 2023 SNEC International Photovoltaic Power Generation and Smart Energy Exhibition. The company plans to showcase the product to potential partners and end-users within the photovoltaic industry.
The introduction of the Tedlar frontsheet can help in replacing glass frontsheets while maintaining mechanical stability and weatherability for lightweight PV modules. The Tedlar frontsheet possesses a unique combination of properties, including durability, UV resistance, high light transmittance, long-lasting UV protection, mechanical toughness, abrasion resistance, chemical resistance, and strong adhesion to encapsulant. DuPont believes that this new approach can contribute to the frontsheet of solar modules.
In addition to this, DuPont plans to showcase its battery pack thermal management solutions for energy storage applications at the exhibition. The company experts will share their findings at technical forums to discuss Tedlar frontsheet film for lightweight, flexible PV modules and the reliable performance of Tedlar products at the SNEC Expo.
Despite an overall decline in the industry, the shares of DuPont have only lost 1.6% over the past year compared to the 9.4% decline of its competitor’s industry.
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The company recently outlined that net sales for 2023 will be between $12,300-$12,500 million. Adjusted earnings per share for 2023 are forecasted to be $3.55-$3.70.
DuPont expects that water, automotive, aerospace, and healthcare segments will remain robust for the remainder of 2023. However, it also anticipates weakness in the electronics industry and channel inventory destocking in the near future.
Furthermore, DuPont has agreed to acquire Spectrum Plastics Group, a leading manufacturer of specialty medical devices and components from AEA Investors for $1.75 billion. The transaction is subject to regulatory approvals and other customary closing conditions, and it is expected to complete by third-quarter 2023. The acquisition can enhance DuPont’s existing position in stable and fast-growing healthcare end markets.
Zacks Rank & Key Picks
DuPont presently holds a Zacks Rank #3 (Hold). Some better-ranked stocks in the basic materials sector include Alamos Gold Inc. AGI, Koppers Holdings Inc.KOP, and Linde plcLIN. To view the full list of today’s Zacks #1 Rank (Strong Buy) stocks, click here.
Alamos currently holds a Zacks Rank #2 (Buy), and Koppers and Linde both hold a Zacks Rank #2 as well. The Zacks Consensus Estimate for Alamos Gold’s current-year earnings is $0.46, indicating a year-over-year growth of 64.3%. It has a trailing four-quarter earnings surprise of approximately 16.7%, on average. Koppers has grown around 23.1% in a year, and the Zacks Consensus Estimate for its current-year earnings has risen by 6.3%. Linde’s earnings have outperformed the Zacks Consensus Estimate in each of the previous four quarters and had a trailing four-quarter earnings surprise of approximately 6.9%. It has grown around 12.4% in a year.
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