Dow Chemical +2.3% as Q1 earnings jump 65%

|About: Dow Chemical Co. (DOW)|By:, SA News Editor

Dow Chemical (DOW) +2.3% premarket after Q1 earnings rose 65% Y/Y, beating estimates, on a slight revenue rise and a boost from lower costs.

DOW says adjusted EBITDA margin expanded more than 60 bps Y/Y to 16.6%, with increases in all operating segments except feedstocks and energy; margins grew despite a $300M-plus increase in purchased feedstocks and energy, due to continued emphasis on productivity and cost-control actions.

Sales in DOW's performance plastics segment gained 3%, largely due to price increases; excluding the impact of divestitures, the growth was 6%.

R&D expenses fell 10%.