Dow beats on profit and sales as local prices increased 16%, but stock turns lower

43672 dow beats on profit and sales as local prices increased 16 but stock turns lower

Shares of Dow Inc. erased earlier gains of as much as 1.9% to fall 1.0% in premarket trading Thursday, even after the chemicals and specialty materials company reported second-quarter profit and sales that beat expectations, as price increases helped offset COVID-related lockdowns in China, logistics constraints and higher energy and raw material costs. Net income fell to $1.68 billion, or $2.26 a share, from $1.93 billion, or $2.51 a share, in the year-ago period. Local price increased 16%, with gains in all segments, businesses and regions. Operating earnings per share of $2.31 topped the FactSet consensus of $2.14….

Source: Marketwatch

Related Posts