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Dow Chemical’s profit surges 51% in Q3

by ChemOrbis Editorial Team - content@chemorbis.com
  • 23/10/2015 (16:51)
Dow Chemical released its financial results for the third quarter, according to a press release on the company’s website. The company’s profit increased around 51% to reach $1.29 billion or $1.09 per share in the third quarter owing to strong margins in its performance plastics business and lower raw material costs.

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.
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