Dow Chemical (NYSE: DOW) has reported second-quarter earnings of $649 million, or $0.55 per share, and $14.5 billion in revenue. EPS were down from $0.84 in the same quarter of last year and revenue dropped 10 percent. Analysts polled by Thomson Reuters had expected the company to report earnings of $0.64 per share on $15.70 billion in sales for the quarter.
The company is struggling to boost earnings as contracting economies in Europe and slower Chinese growth curtail demand for products such as plastics. Profit in the plastics business, Dow’s largest unit, fell 21% as prices declined.
“Sustained uncertainty in the world economy continues to present a challenging operating environment,” said CEO Andrew N. Liveris. “This, coupled with an unusually high turnaround season for Dow and a large currency effect, pressured margins in the quarter.”
Shares are down about 3% in premarket trading to $29.35, and the 52-week trading range is $20.61 to $36.32. Thomson Reuters had a consensus analyst price target of $36.31 before this news.
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.