DowDuPont's profit declines in Q3

According to a release on the company’s website, DowDuPont, a merger between The Dow Chemical Company and DuPont, reported a decrease in its net profit for the third quarter.

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.