Published on 25 Apr 2024 on Zacks via Yahoo Finance
Dow's (DOW) Q1 Earnings and Revenues Top on Higher Volumes
Dow Inc. DOW logged profits (on a reported basis) of $516 million or 73 cents per share in first-quarter 2024. This compares to a loss of $93 million or 13 cents per share a year ago.Barring one-time items, adjusted earnings were 56 cents per share for the reported quarter, down from 58 cents a year ago. The figure topped the Zacks Consensus Estimate of 47 cents. Dow recorded net sales of $10,765 million for the quarter, down roughly 9% year over year. It beat the Zacks Consensus Estimate of $10,699.4 million. The top line was hurt by lower local pricing, which more than offset higher volumes. The company benefited from improved demand and lower feedstock and energy costs in the quarter.Volumes were up 1% year over year driven by gains across all regions barring Europe, the Middle East, Africa and India (“(EMEAI”). Local prices fell 10% year over year in the reported quarter. Prices were flat on a sequential comparison basis as slight gains in EMEAI were offset by modest declines in the U.S. & Canada and the Asia Pacific.
Dow Inc. Price, Consensus and EPS Surprise