Sector: Materials|Industry: Chemicals|Market Cap: $27.68B|Employees: 35.9K
Dow Inc. is a materials science company that serves customers in high-growth markets such as packaging, infrastructure, mobility, and consumer applications. The company's core business model is based on its global breadth, asset integration, and scale, focused innovation, and leading business positions. Dow operates manufacturing sites in 31 countries.
The company reported net sales of $10.8 billion, a 9% decrease from $11.9 billion in the first quarter of 2023. This decline was primarily due to a 10% decrease in local prices, although volume increased by 1%.
Net income available for Dow Inc. common stockholders was $516 million, compared to a loss of $93 million in the first quarter of 2023. This improvement was driven by a $65 million increase in equity affiliate earnings and lower significant items.
Operating EBIT was $674 million, compared to $708 million in the first quarter of 2023. The decrease was primarily due to lower selling prices, partially offset by lower raw material, energy, and feedstock costs.