Dow Chemical (July 28) announced before the market opened on Thursday that despite continued pricing and currency headwinds, its second-quarter revenue fell less than expected, and profits easily exceeded market expectations.
Dow CEO Andrew Liveris said the company achieved its 15th consecutive year of profit and margin improvement despite facing a series of challenging geopolitical and market conditions. quarterly growth.
In the second fiscal quarter as of the end of June, Dow Chemical achieved a profit of US$3.12 billion, or US$2.61 per share, compared with a profit of US$1.22 billion in the same period last year, or US$0.97 per share. Dollar.
Adjusted earnings per share excluding special items rose to $0.95 in the quarter, compared with $0.91 in the same period last year. Full-quarter revenue fell 7.4% to $11.95 billion as hydrocarbon products and raw material prices fell.
According to a Thomson Reuters survey, analysts expected adjusted earnings per share of $0.85 for the quarter and revenue of $11.24 billion.
At 22:17 Beijing time, Dow’s stock price was at US$53.88, an increase of 0.47%.
