Dow Chemical’s profit surges 51% in Q3
However, Dow’s sales declined by about 16% year over year to $12.036 billion due to currency issues and unfavorable pricing while sales volumes increased 2% on an adjusted basis on the back of a 5% rise in volumes in the performance plastics unit. Meanwhile, EBITDA for the quarter rose to $2.9 billion while Operating EBITDA was recorded at $2.4 billion. Operating EBITDA margin rose by 370 basis points on the year.
In the performance materials and chemicals segment, the company’s revenues declined 21% to $3.1 billion in the quarter as higher sales volumes in Asia Pacific was offset by global pricing pressures in nearly all businesses and ongoing currency headwinds in global markets. In the performance plastics segments, meanwhile, sales fell 18% to $4.7 billion in the quarter due to lower pricing and currency issues while the packaging and specialty plastics segment recorded higher volumes on stronger demand from emerging markets.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Tightness shapes expectations for Sept PVC pricing in Asia
- PP uptrend falters in Indonesia amid downstream resistance
- Will European PE market sustain uptrend following higher ethylene?
- COVID-19 resurgence weighs on polymer sentiment in Vietnam
- Stats: Turkey’s H1 polymer imports defy pandemic, hit all-time high
- Stats: China’s total PP, PE imports set a new record in H1 2020
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe