Dow Chemical Tops Profit, Sales Estimates

Dow Chemical Co. said Thursday it had net income of $1.32 billion, or $1.07 a share, in the second quarter, down from $3.12 billion, or $2.61 a share, in the year-earlier period. Adjusted per-share earnings came to $1.08, ahead of the FactSet consensus of $1.01. Sales rose to $13.8 billion from $11.9 billion, and were also ahead of the FactSet consensus of $13.6 billion. The company said it expects to close its planned merger with DuPont Inc. in August. Shares were slightly higher in premarket trade, and gained 15% in 2017, while the Dow Jones Industrial Average has gained 10% and the S&P 500 has gained 11%.