Dow Chemical Q3 net income up 51% to $900m, sales rise 17%

27 October 2011 12:25  [Source: ICIS news]

LONDON (ICIS)--Dow Chemical’s third-quarter net income rose by 51% year on year to $900m (€648m) on the back of improved sales in all geographic areas, the US-based company said on Thursday.

The company reported sales of $15.1bn in the third quarter of 2011, a 17% increase compared with the same period last year, with top-line growth driven by price, it added.

Dow said double-digit sales gains were reported in all operating segments, with the largest percentage increases in Feedstocks and Energy (34%) and Agricultural Sciences (27%).

Double-digit sales increases were also reported in all geographic areas, with the highest growth in Latin America (21%) and Europe, Middle East and Africa (EMEA) (19%). In emerging regions, sales reached $5bn, a new quarterly record for the company, Dow said.

“Dow delivered broad-based sales gains and significant earnings growth this quarter, reflecting the strength of our transformed business portfolio,” said Andrew Liveris, Dow’s chairman and CEO.

“Our diversified geographic presence was also on display, as our investments in emerging regions enabled us to capitalise on growth where it is happening most rapidly, even as developed regions paused in their economic recovery,” he added.

“We achieved record EBITDA [earnings before interest, tax, depreciation and amortisation] for both the quarter and year to date,” Liveris said.

Commenting on Dow’s outlook, Liveris expects ongoing volatility in the pace of global economic recovery, and he added that the company is "prepared for jagged economic conditions over the near term."

($1 = €0.72)

For more on Dow Chemical visit ICIS company intelligence


By: Franco Capaldo
+44 (0)20 8652 3214



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index