Dow Earnings Exceed Estimates as Plastics, Chemicals Gain
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Dow Chemical Co., the largest U.S. chemical maker, reported second-quarter profit that exceeded analysts’ estimates, led by sales of plastics, caustic soda and genetically modified seeds.
Net income rose to $1.07 billion, or 84 cents a share, from $651 million, or 50 cents, a year earlier, Midland, Michigan-based Dow said today in a statement. Earnings excluding costs for early debt repayment were 85 cents a share, topping the 79-cent average estimate of 12 analysts in a Bloomberg survey. Revenue climbed 18 percent to $16 billion from $13.6 billion.