Q1 25 EPS
$0.02
BEAT +249.25%
Est. $-0.01
Q1 25 Revenue
$10.43B
BEAT +1.66%
Est. $10.26B
vs S&P Since Q1 25
+12.6%
BEATING MARKET
DOW +44.4% vs S&P +31.8%
Market Reaction
Did DOW Beat Earnings? Q1 2025 Results
Dow posted a narrow but meaningful beat in Q1 2025, reporting non-GAAP operating EPS of $0.02 against a consensus estimate of -$0.01, a 249.25% positive surprise, even as the chemicals giant navigated one of the most challenging stretches in its rece… Read more Dow posted a narrow but meaningful beat in Q1 2025, reporting non-GAAP operating EPS of $0.02 against a consensus estimate of -$0.01, a 249.25% positive surprise, even as the chemicals giant navigated one of the most challenging stretches in its recent history. Revenue of $10.43 billion edged past the $10.26 billion estimate by 1.66%, though it still fell 3.1% year-over-year as lower local prices across all segments overwhelmed a sixth consecutive quarter of volume growth. The headline numbers, however, barely captured the scale of Dow's strategic repositioning: the company unveiled a sweeping $6 billion cash support plan that includes delaying its landmark Fort Saskatchewan Path2Zero project in Canada, expanding a European asset review targeting three upstream facilities for potential idling or shutdown, and closing a $2.40 billion first-tranche infrastructure deal with Macquarie Asset Management on May 1. Analysts tracking the full picture noted that tariff uncertainty and a prolonged industry downcycle remain the defining pressures heading into the rest of 2025.
Key Takeaways
- • Sixth consecutive quarter of year-over-year volume growth at 2%
- • Lower local prices across all operating segments declined 3% year-over-year
- • Higher energy and feedstock costs compressed margins
- • Currency headwinds reduced net sales by 1%
- • Seasonal working capital build reduced operating cash flow sequentially
DOW YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
DOW Revenue by Segment
With YoY comparisons, source: SEC Filings
DOW Revenue by Geography
With YoY comparisons, source: SEC Filings
“We remain focused on disciplined execution and increased actions to improve profitability and support cash flow. Despite ongoing macroeconomic challenges, Team Dow delivered a sixth consecutive quarter of year-over-year volume growth while taking actions to reduce costs and right-size capacity. The significant impact of slower GDP growth and volatile market conditions on our industry underscores the importance of our proactive management and best-owner mindset. Today's announcements build on Dow's cost actions that are already underway, aiming to further strengthen our financial flexibility and support a balanced capital allocation approach.”
— Jim Fitterling, Q1 2025 Earnings Press Release
DOW Earnings Trends
DOW vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
DOW EPS Trend
Earnings per share: estimate vs actual
DOW Revenue Trend
Quarterly revenue: estimate vs actual
DOW Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $-0.14 | — | $9.79B | +1.39% |
| Q4 25 BEAT FY | $-0.51 | $-0.34 | +33.33% | $9.46B | — |
| FY Full Year | $-1.03 | $-0.94 | +8.36% | $39.97B | -0.02% |
| Q3 25 BEAT | $-0.30 | $-0.19 | +36.84% | $9.97B | -2.49% |
| Q2 25 MISS | $-0.17 | $-0.42 | -146.19% | $10.10B | -1.20% |
| Q1 25 BEAT | $-0.01 | $0.02 | +249.25% | $10.43B | +1.66% |