DD DuPont de Nemours Inc

By Austen Hufford

DuPont de Nemours Inc. said it idled several manufacturing sites that serve the auto industry after major U.S. car makers halted production, the latest example of how coronavirus-related stoppages are ricocheting through the supply chain.

The maker of nylon and other materials for the auto industry said on Monday that it had suspended its financial guidance for the year and was delaying capital investments, citing the uncertainty around the pandemic and global softening in the automotive, energy and other industrial markets.

The company also said it had secured commitments for up to $3 billion in new financing that will help the company weather the downturn. DuPont said its first-quarter adjusted earnings per share would come in at 82 cents to 84 cents, above the 68 cents forecast by analysts.

Write to Austen Hufford at austen.hufford@wsj.com

(END) Dow Jones Newswires

April 20, 2020 07:19 ET (11:19 GMT)

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