Dow Beats Earnings And Revenue Expectations

Dow Chemical Co. reported second-quarter earnings that rose to $3.12 billion, or $2.61 a share, from $1.14 billion, or 97 cents a share, in the same period a year ago. Operating earnings per share, which excludes a gain related to the Dow Corning ownership restructure and one-time restructuring charges, came in at 95 cents. The FactSet EPS consensus was 86 cents. Revenue fell to $11.95 billion from $12.91 billion, but beat the FactSet consensus of $11.23 billion, as the chemical company's performance plastics, performance materials and chemicals, infrastructure solutions and consumer solutions businesses all exceeded expectations. Chief Executive Andrew Liveris said the company is witnessing healthy demand in North America, a measured recovery in Europe, early signs of improvement in Latin America and a rise of increasingly affluent customers in Asia. "Despite the varied economic landscape, we continue to see favorable conditions and robust demand in our core consumer-led markets of packaging, automotive and construction throughout the world," Liveris said. The stock, which ticked up 0.7% in light premarket trade, has gained 4.2% year to date through Wednesday, while the S&P 500 has advanced 6%.