Dow Chemical Tops Profit And Sales Estimates In Latest Quarter

The Dow Chemical Co. said Thursday it had a net loss of $33 million, or 3 cents a share, in the fourth quarter, after earnings of $3.527 billion, or $2.94 a share, in the year-earlier period. The loss was due to a change in accounting for asbestos-related matters and charges for legacy environmental remediation activities, the company said in a statement. Adjusted per-share earnings came to 99 cents, ahead of the FactSet consensus of 88 cents. Sales rose to $13.0 billion from $11.46 billion, also ahead of the FactSet consensus of $12.38 billion. "We are seeing early signs of positive economic momentum, with the United States in expansionary mode, driven by the ongoing strength of the consumer and the tailwind of a new incoming administration promising structural reforms," said Chief Executive Andrew Liveris. The company is expecting businesses that serve packaging, infrastructure, consumer care, electronics, automotive and agriculture to remain healthy. Shares were not yet active in premarket trade.