Dow profit rises 61.4% on recovery in chemical prices, demand
Thu Jan 28 2021
Mark Cooper (2195 articles)

Dow profit rises 61.4% on recovery in chemical prices, demand

Dow Inc reported a fourth-quarter profit on Thursday that rose 61.4%, compared with the third, helped by higher demand and prices for its chemicals following a gradual recovery from the impact of the COVID-19 pandemic.

Some of Dow’s end markets, including furniture, appliances, packaging, construction and automotive, have started to recover. The company has also slashed its workforce and is looking to sell its non-core businesses to counter the hit from the pandemic.

For the reported quarter, prices rose 8%, compared with the third, while volumes sold rose 2%.

Dow reported sales of $10.71 billion, beating analysts’ estimates of $10.03 billion, according to Refinitiv IBES.

Net operating income, which excludes some items, rose to $607 million, or 81 cents per share, in the three months ended Dec. 31, from $376 million, or 50 cents per share, in the third quarter.

Tags Dow, Stock
Mark Cooper

Mark Cooper

Mark Cooper is Political / Stock Market Correspondent. He has been covering Global Stock Markets for more than 6 years.

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