Dow Chemical profit beats estimates as sales of farm products jump

EnergyReuters

Dow Chemical Co's first-quarter earnings beat analysts' estimates, helped by higher demand for its seeds and crop-protection chemicals in the Americas.

Sales at its agriculture science business, which supplies seeds, oils and farm chemicals, jumped 14 percent in the quarter, the highest growth among its business units.

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Net income rose about 33 percent to $550 million, or 46 cents per share, in the first quarter from $412 million, or 35 cents per share, a year earlier.

Excluding one-time items, earnings were 69 cents per share.

Revenue fell 2 percent to $14.4 billion.

Analysts on average expected earnings of 61 cents per share on revenue of $14.88 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Garima Goel in Bangalore; Editing by Sriraj Kalluvila)