DuPont de Nemours, Inc.

Good day and thank you for standing by and welcome to the DuPont 3rd Quarter 2021 Earnings and Strategic Update Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone or touchtone key. If you require any operator assistance, please press star 0. I would now like to hand the conference over to your first speaker today, Head of Investor Relations, Pat Fitzgerald. Thank you. Please go ahead.

Good morning, and thank you for joining us for DuPont's third quarter 2021 earnings conference call. On today's call, we will also discuss two strategic transactions that we announced this morning. We are making this call available to investors and media via webcast. We will extend today's call to approximately 90 minutes to allow for Q&A related to both earnings and the strategic announcements. We have prepared slides to supplement our comments during this conference call. These slides are posted on the investor relations section of DuPont's website and through the link to our webcast. Joining me on the call today are Ed Breen, Chief Executive Officer, and Lori Koch, Chief Financial Officer. John Kemp, President of Electronics and Industrial, will also join for the Q&A session. Please read the forward-looking statement disclaimer contained in the slides. During our call, we will make forward-looking statements regarding our expectations or predictions about the future. Because these statements are based on current assumptions and factors that involve risk and uncertainty, our actual performance and results may differ materially from our forward-looking statements. Our 2020 Form 10-K as updated by our current and periodic reports, includes detailed discussions of principal risks and uncertainties which may cause such differences. Unless otherwise specified, all historical financial measures presented today exclude significant items. We will also refer to other non-GAAP measures. A reconciliation to the most directly comparable GAAP financial measure is included in our press release and posted to the investor page of our website.

I'll now turn the call over to Ed. Thanks, Pat, and good morning, everyone, and thank you for joining us. In addition to our excellent quarterly results, I am pleased to have the opportunity today to talk about two significant strategic moves we are making to further strengthen our portfolio and deliver long-term value for our shareholders. I will provide a brief overview of these announcements before Laurie walks you through earnings, and then I'll be back to go into more depth on our announcements today. Our teams delivered outstanding results in the third quarter, above the high end of our guidance ranges for sales, operating EBITDA, and adjusted EPS, highlighted by the actions we took to implement price increases to stay ahead of raw material inflation. In the quarter, we delivered a neutral price-cost impact for the company, which is a proof point in effectively managing the levers within our control to deliver strong results. Market demand in nearly every one of our end markets was strong, and our supply chain organization executed well in a challenging environment to deliver for our customers. Organic growth was up high single to double digits in every segment in the quarter. I am pleased by the quick actions our teams took to position us to continue managing the supply chain challenges and raw material cost pressures effectively as we head into the fourth quarter. As Laurie will cover in a few minutes, We expect to fully offset raw material price headwinds again in the fourth quarter. As I mentioned, we also announced two strategic transactions this morning. The acquisition of Rogers Corporation and our intent to divest a substantial portion of our mobility and materials segment will significantly strengthen DuPont's position in our core high-growth, high-margin markets with a focus on electronics, water, technologies, and next-generation automotive. In addition to focusing the portfolio, these strategic actions will accelerate our top-line growth, operating EBITDA margins, and significantly improve our earning stability. The combined transactions will allow us to benchmark extremely well against best-in-class multi-industrial peers, thereby resulting in long-term value creation. I will cover the details of the Rogers and M&M transactions in a moment. But first, let me turn it over to Lori to discuss the quarter as well as our outlook for the remainder of the year.