Urethane Blog
Dow Q3 Results
October 24, 2024
Dow’s stock rises as Q3 sales beat estimates
Oct. 24, 2024 9:20 AM ETDow Inc. (DOW) StockBy: Rob Williams, SA News Editor
Dow’s (NYSE:DOW) stock rose 1.5% on Thursday morning after the chemical maker reported third-quarter results.
Adjusted earnings were $0.47 a share, in line with the consensus estimate.
Net sales rose 1% from a year earlier to $10.88 billion in the third quarter, led by higher sales in the United States and Canada. Analysts on average forecast sales of $10.68 billion.
The company last month had warned third-quarter sales would be less than previously forecast.
“Our cost-advantaged footprint in the Americas continues to provide a strong competitive edge, enabling Dow (DOW) to capture demand growth in attractive markets,” Jim Fitterling, chair and chief executive of Dow (DOW), said in a statement. “However, a meaningful recovery has yet to materialize in Europe and China.”
Sales grew 1.1% from the prior year in its packaging and specialty plastics business, and by 3.9% for its performance materials and coatings unit. However, sales fell 2.4% in its industrial and infrastructure unit.
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