US Dow turns to net profit in Q1
by ChemOrbis Editorial Team - content@chemorbis.com
Dow reported a net income of $538 million for the first quarter of 2024, up from a $73 million loss in the same period last year. The US company’s operating EBIT was $674 million, down from $708 million in Q1 2023.
Dow’s net sales were $10.7 billion, down by 9% compared to the year-ago period. The decline reflects the weakening in all operating segments due to slowing global macroeconomic activity, the company said.
In the packaging and specialty plastic segment, Dow’s operating EBIT was $605 million, down from $642 million in the first quarter of 2023. Furthermore, net sales of the segment in the quarter were $5.4 billion, down by 11% from Q1 2023.
“In the first quarter, we captured improving demand, maintained pricing and benefited from lower feedstock and energy costs,” Jim Fitterling, CEO of Dow said.
Dow’s net sales were $10.7 billion, down by 9% compared to the year-ago period. The decline reflects the weakening in all operating segments due to slowing global macroeconomic activity, the company said.
In the packaging and specialty plastic segment, Dow’s operating EBIT was $605 million, down from $642 million in the first quarter of 2023. Furthermore, net sales of the segment in the quarter were $5.4 billion, down by 11% from Q1 2023.
“In the first quarter, we captured improving demand, maintained pricing and benefited from lower feedstock and energy costs,” Jim Fitterling, CEO of Dow said.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- March hints at further hikes in European PP, PE markets
- India’s PVC market dips to new lows on Taiwan’s March cuts, players seek signs of bottom
- Q1 turnarounds uplift Mid-East PP, PE markets in February; will it spill over to March?
- SE Asia’s indefinite PE shutdowns: A market in crisis as demand woes threaten survival
- Türkiye’s PPH markets perform better than copolymers in February
- Margin recovery priorities outweigh supply imbalances in European PVC markets
- Asian PVC demand stagnant; recovery hopes shift to end of Q1
- Tough slog in S Korea’s petchem industry spells disappointing 2024 financial results; will government's recent plan help weather the storm?
- China’s PP, PE markets face post-holiday supply surge and tepid demand
- A tug-of-war unfolds in Türkiye as PVC demand struggles against rising costs
