Electronics Separation - DuPont is targeting November 1, 2025, to complete the separation of its Electronics business via a spin-off transaction, creating a new independent company named "ElectronicsCo" (later named Qnity)[3, 12, 17] - The separation does not require a shareholder vote but is subject to customary conditions [4] - Effective Q1 2025, DuPont realigned its management and reporting structure in light of the intended separation, reporting the Electronics business separately [5] Financial Performance - 1Q 2025 - Net sales reached $3.1 billion, with 6% organic growth year-over-year[12, 19] - Operating EBITDA increased by 16% year-over-year to $788 million, with a margin expansion of 240 basis points to 25.7%[12, 19] - Adjusted EPS increased by 30% year-over-year to $1.03 per share[12, 20] - Transaction-adjusted free cash flow was $212 million, with a conversion rate of 49%[20] Segment Performance - 1Q 2025 - ElectronicsCo's net sales were $1.118 billion, with organic growth of 14% driven by a 16% increase in volume[24] - ElectronicsCo's Operating EBITDA was $373 million, with a margin of 33.4%, up 340 basis points year-over-year[26, 30] - IndustrialsCo's net sales were $1.948 billion, with organic growth of 2%[32] - IndustrialsCo's Operating EBITDA was $464 million, with a margin of 23.8%, up 130 basis points year-over-year[34, 37] Outlook - The company maintains its FY25 guidance with net sales of $12.8 - $12.9 billion and Adjusted EPS of $4.30 - $4.40[12, 38] - The company estimates a net cost impact of approximately $60 million (approximately $0.10 per share) from tariffs, mainly impacting the second half of 2025[38]