- Dow press release (NYSE:DOW): Q2 Non-GAAP EPS of $2.31 beats by $0.17.
- Revenue of $15.7B (+13.0% Y/Y) beats by $160M.
- Local price increased 16% versus the year-ago period, reflecting gains in all operating segments, businesses, and regions.
- Volume was consistent with the year-ago period, as gains in Packaging & Specialty Plastics were primarily offset by declines in Industrial Intermediates & Infrastructure. Sequentially, volume declined 2%, driven by declines primarily in Europe and China.
"Looking ahead, the long-term fundamentals driving growth across our end markets remain attractive," said Fitterling. "While near-term market conditions are dynamic, we will continue to leverage our diverse, global portfolio and flexible operating model to capitalize on attractive growth opportunities. The actions we've taken to enhance the resiliency of our business position us well to deliver value across a variety of economic environments. Our disciplined and balanced approach to capital allocation has delivered higher mid-cycle earnings, an improved credit profile, and cash generation above pre-pandemic levels. Team Dow remains well-positioned to continue advancing our "decarbonize and grow" strategy while delivering attractive shareholder remuneration."