Dow Non-GAAP EPS of $1.11 misses by $0.04, revenue of $14.1B beats by $1.09B

• Dow press release (NYSE:DOW): Q3 Non-GAAP EPS of $1.11 misses by $0.04.
• Revenue of $14.1B (-5.0% Y/Y) beats by $1.09B.
• Gains in Performance Materials & Coatings were more than offset by declines in Industrial Intermediates & Infrastructure and Packaging & Specialty Plastics. Sequentially, sales were down 10% with declines in all operating segments and regions.
• Local price increased 3% versus the year-ago period, driven by Performance Materials & Coatings and Industrial Intermediates & Infrastructure. Sequentially, local price decreased 6% with declines in all operating segments and regions.
• Currency decreased net sales by 4% year-over-year and 1% versus the prior quarter due to broad-based strength of the U.S. dollar.
• Volume was down 4% versus the year-ago period, as a 12% decline in EMEAI more than offset 2% volume growth each in the U.S. & Canada and Asia Pacific. Sequentially, volume was down 3%, led by an 8% decline in EMEAI.