Shares of Dow Inc. slipped 0.7% in premarket trading Tuesday, after the chemicals and specialty materials company beat first-quarter profit and sales...
Shares of Dow Inc. DOW slipped 0.7% in premarket trading Tuesday, after the chemicals and specialty materials company beat first-quarter profit and sales expectations but saw volume drop 11%. The company swung to a net loss of $93 million, or 13 cents a share, from net income of $1.57 billion, or $2.11 a share, in the year-ago period.
Excluding nonrecurring items, such as costs from a restructuring and a litigation matter, adjusted earnings per share of 58 cents was well above the FactSet consensus of 36 cents. Sales declined 22.4% to $11.85 billion but was above the FactSet consensus of $11.35 billion, as sales from the packaging and specialty plastics and performance materials and coatings businesses beat expectations but industrial intermediates and infrastructure sales missed.
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