DuPont de Nemours, Inc.

press the star one. Thank you. I'd now like to turn the call over to Chris McCrae. You may begin.

Good morning, and thank you for joining us for DuPont's fourth quarter and full year 2024 financial results conference call. Joining me today are Ed Breen, Executive Chairman, Lori Koch, Chief Executive Officer, and Antonella Franzen, Chief Financial Officer. We have prepared slides to supplement our remarks, which are posted on DuPont's website under the Investor Relations tab, and through the webcast link, please read the forward-looking statement disclaimer contained in the slides. During this call, we'll make forward-looking statements regarding our expectations or predictions about the future. Because these statements are based on current assumptions and factors that involve risks and uncertainties, our actual performance and results may differ materially from our forward-looking statements. Our Form 10-K, as updated by our current and periodic reports, includes detailed discussion of principal risks and uncertainties which may cause such differences. Unless otherwise specified, all historical financial measures presented today are on a continuing operations basis and exclude significant items. We will also refer to other non-GAAP measures. A reconciliation of the most directly comparable GAAP financial measures included in our press release and presentation materials and have been posted to DuPont's Investor Relations website. I'll now turn the call over to Lori. We'll begin on slide three.

Good morning, everyone, and thanks for joining our fourth quarter call. Earlier today, we reported solid quarterly results to close out a strong year of performance. Fourth quarter sales grew 7%, including another consecutive quarter of double-digit organic growth in E&I, and highlighted by a return to organic growth in W&P of 6%. We showed strong operating leverage as operating EBITDA of $807 million increased 13% year-over-year, operating EBITDA margins of 26.1% expanded 140 basis points, and adjusted ETS of $1.13 grew 30% from the prior year. From an end market view, fourth quarter saw continued strong demand within electronics, driven by the ongoing transition to advanced nodes and related AI-enabling technologies. Further improvement in healthcare markets resulted in a return to volume growth for both our medical packaging and biopharma products, which both grew at double-digit rates. Additionally, we continue to see growth acceleration in water in this quarter, with 4% sequential sales lift and an 11% year-over-year increase. Looking back at full-year financial performance, volume growth of 2% was solid and grew as the year went on, culminating in 8% growth for the fourth quarter. This combined with operational discipline and productivity actions was key to our earnings growth and resulted in strong incrementals and margin improvements. Coupling improved segment earnings with the benefit of a reduced share count led to a robust 17% growth in adjusted EPS. Working capital optimization, which has been another key operating priority for the team, helped drive strong cash generation with transaction-adjusted free cash flow conversion of 105%. I'd like to thank the entire DuPont team for all their hard work and dedication to achieve these results. Turning to slide four, I will cover our key priorities for 2025, organic growth, operational execution, and portfolio management. Starting with the top line, as mentioned, we saw volume growth improvement in both E&I and W&P as we progressed through this past year. Looking into 2025, we expect further acceleration in volume growth, targeting mid-single-digit organic sales growth for the total company. To enable this, we will continue focusing on optimizing our growth opportunities within each business, which includes both continued investment and innovation, as well as driving commercial excellence initiatives, including strategic marketing and sales effectiveness activities. To ensure success, we recently hired a chief commercial officer to drive consistent execution across all of our businesses. Additionally, our businesses continue to focus on driving operational excellence. We are entering our fourth year of driving an enhanced focus on OpEx, and our profitability continues to benefit from the expanded toolkit and discipline rollout across the organization. Coupling our standard OpEx framework with steady investments in digital tools will lead to continued improvement in financial performance. Finally, regarding portfolio management, we announced last month that we are targeting November 1st of this year for the intended spinoff of the electronics business, which is nicely accelerated from the initial timeframe of 18 to 24 months. We remain excited about the sizable shareholder value creation opportunity from creating a leading pure play electronics company. We continue to make progress towards establishing the future boards for electronics and DuPont, and remain on track to be able to announce new board members as well as executive leadership for the future electronics company by the end of the first quarter. We continue to see the excitement building internally and externally, and I look forward to updating you in the coming months. With that, I'll turn it over to Antonella to cover the financial results and outlook in detail.