Qnity Electronics

Qnity Electronics makes materials and solutions for semiconductor chips and electronics, and it is based in Wilmington, Delaware. DuPont spun it off as an independent public company on November 1, 2025. It has two segments. Semiconductor Technologies sells materials that chip makers use to make chips, such as polishing pads and slurries and materials for lithography.

Interconnect Solutions sells materials for chip packaging, circuit boards and electronic devices. Demand for AI and high-performance computing chips drives much of its growth. Net sales were $1.56 billion in Q3 2026.

The market prices Qnity for the risk that the strong chip cycle slows and for its debt and legacy liabilities after the spin-off. Sales grew 22% in Q2 2026 and again 22% in Q3 2026, mostly from AI and advanced chips, and the market fears that this demand is near a peak. Qnity carries about $4.0 billion of debt. Under the spin-off agreements, it also pays a share of certain DuPont PFAS liabilities: for the North Carolina settlement of September 2026, its share is 44%, or $43 million.

A new CFO started on October 1, 2026. For the gap to close, Qnity must reach its 2026 guidance, which it raised again on November 4, 2026: net sales of $5.77 billion to $5.83 billion, Adjusted Operating EBITDA of $1.785 billion to $1.805 billion and adjusted EPS of $4.95 to $5.05. Sales must keep growing in 2027. Its free cash flow must reduce debt, and PFAS costs must stay small.

The Q4 2026 report with the 2027 guidance, expected in February 2027, is the next test. If these checks pass, the gap can close over the next two to four quarters. The main reason it may not close is a downturn in chip production, which would cut demand for its materials.

1. Nov 4, 2026Passed

   Q3 2026 earnings: AI chip demandSales and Adjusted Operating EBITDA on track for the raised 2026 guidance pass; a cut to the guidance fails.Outcome: Q3 2026 net sales rose 22% to $1.56 billion and Adjusted Operating EBITDA was $503 million, and Qnity raised its 2026 guidance again, to net sales of $5.77 billion to $5.83 billion and adjusted EPS of $4.95 to $5.05.
2. Feb 4, 2027 · est.Pending

   Q4 2026 results and the 2027 guidanceA 2027 outlook with sales growth and lower net debt passes; an outlook for falling sales fails.

Every passed and failed checkpoint across all picks

• November 4, 2026Qnity reported Q3 2026 results. Net sales were $1.56 billion, up 22%, with organic growth of 22%. Semiconductor Technologies sales were $797 million and Interconnect Solutions sales were $759 million. Net income was $196 million, or $0.87 per share, down from $1.01, mostly because interest expense rose to $64 million from $14 million after the spin-off, and adjusted EPS was $1.46, up 55%. Adjusted Operating EBITDA was $503 million. Qnity raised its 2026 guidance to net sales of $5.77 billion to $5.83 billion, adjusted EPS of $4.95 to $5.05 and Adjusted Free Cash Flow of $800 million to $900 million.
• October 1, 2026Qnity said that it will report Q3 2026 results before the market opens on November 4, 2026. Ken Rizvi, the former CFO of Synaptics, became its Chief Financial Officer on the same day, October 1.
• September 10, 2026DuPont, Chemours and Corteva settled PFAS claims with the State of North Carolina and some municipalities. Qnity had already set up an indemnification liability of $43 million in Q2 2026, which is its 44% share of the after-tax cost to DuPont.

Last earnings

November 4, 2026 (8-K on sec.gov)

Next earnings

Expected about February 4, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed November 4, 2026 · q-20260930
• 8-KEarnings releaseFiled November 4, 2026 · Press release and exhibits
• 8-KOther company newsFiled September 10, 2026 · q-20260910
• 8-KChange of directors or officers and Investor disclosureFiled August 21, 2026 · q-20260821
• 10-QQuarterly report for the period ended Jun 30, 2026Filed August 4, 2026 · q-20260630
• 8-KEarnings releaseFiled August 4, 2026 · Press release and exhibits
• 8-KNew material agreement and New debt or financial obligationFiled July 1, 2026 · q-20260701
• 8-KShareholder vote resultsFiled May 22, 2026 · q-20260521
• 10-QQuarterly report for the period ended Mar 31, 2026Filed May 12, 2026 · q-20260331
• 8-KEarnings releaseFiled May 12, 2026 · Press release and exhibits

Every filing on SEC EDGAR (CIK 2058873)

• Chip production is cyclical. If AI and data center spending slows, chip makers cut production and buy fewer materials, and sales can fall fast after two years of strong growth.
• Qnity has about $4.0 billion of secured debt from the spin-off. A downturn would make this debt a larger burden and slow the plan to reduce it.
• Under the spin-off agreements, Qnity pays a share of certain DuPont PFAS and other legacy liabilities. New settlements can raise these costs.
• Much of its sales are in Asia. Trade restrictions, export controls and geopolitical conflict can disrupt its business.

Qnity took on debt at the spin-off from DuPont. At September 30, 2026, debt was $4.02 billion: long-term debt of $4.00 billion and short-term borrowings of $23 million. Read more

Yield at the current rate

0.3% (current annual rate, at today’s price)

Dividend yield

0.2% (last 12 months, at today’s price of $126.57)

Paid per share

$0.30 in the last 12 months (4 payments)

Current annual rate

$0.32 ($0.08 × 4 a year)

Payout ratio

2% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

August 31, 2026, $0.08 per share

Dividends per share by year

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.