Plus   Neg

Dow Inc. Q4 Operating Profit Declines; Sales Down 15% - Quick Facts

Dow Inc. (DOW) reported fourth-quarter operating earnings per share of $0.78 compared to pro forma operating earnings of $1.07 per share, prior year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $0.74 for the quarter. Analysts' estimates typically exclude special items. Operating EBITDA was $1.75 billion compared to $2.02 billion, a year ago.

Fourth-quarter net sales were $10.2 billion, down 15% from pro forma results in the year-ago period, primarily driven by lower local prices in all operating segments due to a decline in global energy prices. Analysts expected revenue of $10.07 billion for the quarter. Volume declined 2% versus pro forma results in the year-ago period. Excluding the Hydrocarbons & Energy business, volume rose 2%, driven by demand growth in packaging and construction chemicals applications. Packaging & Specialty Plastics net sales were $4.8 billion, down 18% from pro forma results in the year-ago period.

"We expect to further reduce our cost structure over the course of the year as we complete the stranded cost removal. And, we plan to direct our free cash flow toward a balance of debt reduction and returns to shareholders," said Jim Fitterling, CEO.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT