DuPont de Nemours (DD) has just posted its Q1 2026 scorecard, with recent quarterly revenue figures ranging from US$2.6 billion to US$3.1 billion in 2025 and EPS swinging between a loss of US$1.58 and a gain of US$2.33 as one off items and discontinued operations moved around the income statement. Over the past few quarters, the company has seen total revenue shift from US$2.9 billion in Q3 2024 to US$3.1 billion in Q1 2025. Basic EPS moved from a loss of US$2.06 in Q4 2024 to a gain of US$1.06 in Q3 2024 and then to a loss of US$1.33 in Q1 2025, setting up a results season where the key question for investors is how stable margins and profitability really look beneath those swings.

See our full analysis for DuPont de Nemours.

With the numbers on the table, the next step is to see how this earnings profile lines up against the most widely held narratives about DuPont de Nemours, highlighting where the story around growth, profitability and risk is reinforced and where it is challenged.

Profit swings and one off items in focus

• Over the last four reported quarters, net income excluding extra items moved from a loss of US$860 million in Q4 2024 to a profit of US$975 million in Q2 2025, then back to a loss of US$655 million in Q4 2025, while earnings from discontinued operations ranged from a gain of US$741 million in Q4 2024 to a loss of US$916 million in Q2 2025. This shows how heavily one off and discontinued items influence the bottom line.
• Bulls point to this volatility as a bridge to a cleaner, higher margin portfolio, but the data highlight that the path is bumpy:
  • The bullish narrative expects margins to climb from about 0.8% today to 12% by around 2029. However, trailing twelve month net income excluding extra items is only US$57 million on US$6.8b of revenue, which implies margins are still very thin.
  • Supporters highlight the shift toward electronics, healthcare and water as a way to push margins higher, while the large US$465 million one off loss in the last 12 months shows how easily legal or portfolio items can cut into those ambitions.

On a swing like this, bulls argue that short term noise is the price of getting to a more focused, higher quality business, and they lay out a detailed margin story in the dedicated bull case for DuPont de Nemours. 🐂 DuPont de Nemours Bull Case

TTM profitability returns, but remains fragile

• On a trailing twelve month basis at Q4 2025, DuPont de Nemours moved to a small profit of US$57 million on US$6.8b of revenue, after a trailing loss of US$131 million on US$6.7b of revenue at Q4 2024, while basic EPS over those two TTM snapshots shifted from a loss of US$0.31 to a gain of US$0.14.
• Bears argue this slim profit leaves little room for error, and the recent numbers give them several pressure points to watch:
  • The bearish view expects revenue growth of about 3.7% a year and margins rising to 10.7% by 2029. Yet the last 12 months still include that US$465 million one off loss plus US$836 million of losses in discontinued operations, which both weigh on how quickly earnings can build.
  • Critics also focus on the 1.62% dividend yield that is flagged as not well covered by earnings over the trailing period, which means cash returns to shareholders currently lean on a very thin earnings base rather than a robust profit pool.

Skeptics see a business that has just inched back into the black while still dealing with legal and legacy costs, and the detailed bear case for DuPont de Nemours walks through how those pressures could keep margins under strain. 🐻 DuPont de Nemours Bear Case

Mixed valuation signals at US$49.24

• At a share price of US$49.24, the stock trades on a P/S of 2.9x compared with a US chemicals industry average of 1.1x and peer average of 2.3x. The same data set shows a DCF fair value of about US$66.38, which is roughly 35% above the current price, and an analyst consensus target of US$55.93.
• Consensus narrative tries to reconcile those signals by tying them back to expected growth and improving margins:
  • Analysts are looking for revenue to grow about 3.7% a year and profit margins to rise from roughly 0.6% today to 11.8% by around 2028, which would imply much higher earnings power than the current trailing twelve month profit of US$57 million on US$6.8b of revenue.
  • At the same time, the five year average annual earnings change of 12.9% reflects a history of losses, so the premium P/S multiple and gap versus the DCF fair value depend on the company converting that forecast margin improvement into more consistent net income than the recent stop start pattern.

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for DuPont de Nemours on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

Given the mix of optimism and caution running through this earnings story, it makes sense to move quickly, test the numbers yourself and pressure test the assumptions. To frame that work with a clear view of both upside and downside, start with the 3 key rewards and 2 important warning signs

See What Else Is Out There

Between thin trailing profits, sizeable one off charges and a dividend flagged as not well covered, DuPont de Nemours currently carries several financial pressure points.

If you want stocks where financial cushions look stronger, check out the solid balance sheet and fundamentals stocks screener (46 results) to quickly focus on companies built on sturdier fundamentals.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.