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Dow Q3 Net Income Declines; Net Sales Down 8%

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us

Dow (DOW) reported third quarter net income available for stockholders of $62 million compared to $214 million, last year. Earnings per share declined to $0.08 from $0.30. Operating EBITDA was $868 million compared to $1.38 billion, previous year. Operating loss per share was $0.19, compared to profit of $0.47. The company noted that operating result excludes significant items totaling $0.27 per share, primarily driven by one-time favorable tax adjustments and gains from the sale of 50% interest in the DowAksa joint venture. Analysts on average expected the company to report a loss per share of $0.30, for the quarter. Analysts' estimates typically exclude special items.

Third quarter net sales were $10.0 billion, down 8% year-over-year, reflecting declines in all operating segments. Volume decreased 1% year-over-year.

Shares of Dow are up 4% in pre-market trade on Thursday.

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