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Dow Chemical’s earnings exceed estimates in Q4

by ChemOrbis Editorial Team -
  • 30/01/2015 (11:56)
US- based Dow Chemical’s earnings increased more than expected in the fourth quarter of 2014, according to a statement on the company’s official website. It was reported that persistently plunging crude oil prices and lower natural gas costs helped the company improve margins at its plastics business, although media reports commented that some analysts are concerned that the recent decline in oil prices will limit the competitive edge US petrochemical producers currently enjoy thanks to attractively-priced shale gas feedstocks.

In the fourth quarter, company’s adjusted earnings were reported at 85 cents per share while analysts’ initial estimates called for earnings of 70 cents per share in a survey by Bloomberg. The company’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) also rose 15% on the year to $2.4 billion the fourth quarter of 2014 while net sales were reported almost unchanged at $14.38 billion when compared to 2013.

However, the company’s fourth quarter net income fell 24% year over year to $734 million, or 63 cents per share, when compared to $963 million, or 79 cents per share, in the same period of the previous year.

For the Performance Plastics segment, the company posted $5.5 billion in sales in the three months ending in December, a drop of 3% year over year. EBITDA for the sector was reported at $1.2 billion, down from $1.7 billion in the same quarter of the preceding year.
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