UPDATE 1-Dow profit falls on lower prices, coronavirus-led slowdown hurts demand [Reuters]
Dow Inc. (DOW)
Last dow inc. earnings: 4/30 06:00 am
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Source: Reuters
Dow profit falls on lower prices, coronavirus-led slowdown hurts demand (Reuters) - Dow Inc ( DOW.N ) posted a drop in adjusted quarterly profit on Thursday as its margins were squeezed by a double whammy of lower selling prices for its chemicals after a plunge in crude prices and a coronavirus-led demand hit in some end-markets. A widespread halt in industrial activity to stem the spread of the pandemic and the oil-price crash added to the woes of chemical companies, which were battling trade-related uncertainties even before the outbreak began. Dow, which makes chemicals used in industries ranging from plastics, paints and building materials, said volumes fell 2% and prices declined by 8%. Net income available to Dow stockholders rose about 36% to $239 million on a pro forma basis, as the year-earlier quarter included higher charges related to its merger and later split from DowDupont. Excluding items, net operating income fell to $439 million, or 59 cents per share, in the first
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