Dow Chemical beats second quarter profit forecasts

NEW YORK (AP) - Last week, specialty chemicals maker Dow Chemical Co. reported better-than-expected second-quarter profit, but revenue fell short on the impact from a stronger U.S. dollar and lower oil prices.

The company makes a range of products from plastics to paint preservatives. A stronger dollar has hurt the bulk of its business internationally while lower oil prices have cut into its competitive position. The profit boost during the quarter came mainly from lower costs.

The Midland, Michigan-based company reported second-quarter profit of $1.22 billion, or 97 cents per share, marking a 26 percent boost from $967 million, or 73 cents per share, a year ago.

Earnings, adjusted for non-recurring gains, came to 91 cents per share.

The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

Revenue during the quarter fell 13.5 percent to $12.91 billion from $14.92 billion. Five analysts surveyed by Zacks expected $13.11 billion.

Dow Chemical shares have risen almost 10 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 3 percent. The stock has decreased roughly 5 percent in the last 12 months.


Elements of this story were generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on DOW at

Published: Mon, Jul 27, 2015