DowDuPont's profit declines in Q3
During the quarter, DowDuPont’s net income decreased 29% to $514 million from $719 million recorded in last year while the company’s earnings also fell 4% on a yearly basis.
Net sales, on the other hand, grew 23% to $15.35 billion from $12.48 billion in 2016. EBITDA also showed an increase of 7%, reaching $3.22 billion from $3.02 billion a year prior.
The downturn in profit was mostly attributed to higher feedstock and plant startup costs along with negative impacts of hurricanes which hit the Gulf Coast in August and September.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Upstream keeps China PET afloat; prices hit 11-month high
- Import PVC uptrend loses momentum in Asia; is the 9-month rally coming to an end?
- Tightness brings further price hikes in African PP, PE markets
- European PP hits new highs after 3-digit hikes for January
- Turkey’s PP, PE markets open 2021 with supply-driven hikes
- Vietnam’s local homo-PP market retreats for 3rd week on subdued demand
- China’s PE demand wavers amid controls on environmental pollution and electricity use
- January trend takes shape in Egypt’s PP, PE markets
- Stats: Turkey’s 2020 polymer imports set to beat the 2017 record
- China PP, PE markets close 2020 on a soft note; SE Asia feels pressure