Dow Chemical beats estimates amid sales gains across businesses

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

Dow Chemical (NYSE:DOW) +1.2% premarket after Q2 results rose a better than expected 3% as the company reported growth in all its operating segments; earnings tumbled 60% Y/Y on higher sales costs and an unfavorable comparison with the year-earlier period, but results beat analyst estimates.

Q2 sales growth was led by the electronic and functional materials segment, which reported a 5% increase in revenue to $1.2B; sales in performance plastics rose ~2% to $3.75B, while coatings and infrastructure solutions rose ~3% to $1.95B and agricultural sciences also added ~3% to $1.91B.

Margins improved due to higher prices and a tight control on costs, and rose in four of Dow's six units; the exceptions were the agriculture business and the feedstocks and energy division.