Dow Chemical reports flat quarterly sales

PLASTICS NEWS REPORT

Published: July 26, 2013 3:35 pm ET
Updated: July 26, 2013 3:40 pm ET

Related to this story

Topics Polyethylene, Materials Suppliers, Financial
Companies & Associations Dow Chemical Co.

MIDLAND, MICH. — Dow Chemical Co. has reported that second-quarter sales were $14.6 billion, flat vs. the year ago period, with earnings (EBITDA), up 9 percent at $4.2 billion. Sales gains in the quarter were led by its agricultural sciences business. Sales also grew in its performance materials segment.

In the performance materials business, sales were $3.4 billion, up 1 percent from the same period in 2012. Volume grew by 4 percent, while price declined 3 percent compared with the same quarter last year, Dow said in its July 25 quarterly report. The company added the volume increases were driven by improved assets and market share gains within polyurethane and propylene oxide/propylene glycol.

Performance materials' earnings (EBITDA) was $284 million, down from $350 million in the second quarter of 2012.

The company said its performance plastics business had seen sales slip 1 percent to $3.7 billion, reflecting the closure of its high density polyethylene plant in Tessenderlo, Belgium.

Dow Packaging and specialty plastics improved sales in North America, Latin America and Asia Pacific, more than offsetting lower sales in Europe. Sales in food and specialty packaging showed great strength across all geographic regions, the company said.

For the company as a whole, volume increased 2 percent, with gains in most geographic areas. Volume growth in emerging geographic areas rose 9 percent, led by double-digit growth in Latin America (up 12 percent). Volume also increased in Asia-Pacific (up 7 percent), Dow said.

Looking to the future, Dow Chairman Andrew Liveris said, "We remain committed to driving shareholder-friendly, and balance sheet-focused actions, such as further debt reduction and ongoing cash flow growth, and returning the benefits to our shareholders over the near- and long-term."


Comments

Dow Chemical reports flat quarterly sales

PLASTICS NEWS REPORT

Published: July 26, 2013 3:35 pm ET
Updated: July 26, 2013 3:40 pm ET

Post Your Comments


Back to story


More stories

Image

Experts explain why resin sales are down in a healthy US economy

February 27, 2015 1:58 pm ET

The economies of the U.S. and Canada posted solid growth in 2014 — even though resin demand in those countries lagged behind.    More

Image

Industry vet Dwight Morgan joins M. Holland

February 27, 2015 1:55 pm ET

Resin distribution leader M. Holland Co. has hired industry veteran Dwight Morgan as its vice president of corporate development.    More

Image

Indian masterbatch makers growing locally and thinking globally

February 27, 2015 1:30 pm ET

GANDHINAGAR, INDIA — India’s masterbatch makers are expanding their domestic capacity to meet growing demand, as some are also moving...    More

Image

Polypropylene prices rise, while PE and PS fall

February 26, 2015 4:01 pm ET

North American prices for polyethylene and polystyrene resins continued to fall in February, while regional prices for polypropylene showed a...    More

Image

3i to sell specialty chemicals company Azelis to Apax Partners

February 26, 2015 11:36 am ET

Azelis Holding SA, the specialty chemicals distributor, is being sold by its private equity owners 3i Group plc to another private investment outfit, ...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events