Dow tops Q1 expectations despite revenue drop

Fiona Craig

Thu, April 23, 2026 astatine 7:09 AM CDT 2 min read

Dow Inc. (NYSE:DOW) reported first-quarter results connected Thursday that came successful up of expert forecasts, adjacent arsenic the chemicals radical posted a nett nonaccomplishment amid a hard marketplace backdrop and disruptions linked to the Middle East conflict.

Shares of the institution slipped 1.06% successful premarket trading pursuing the release.

The institution recorded an adjusted nonaccomplishment per stock of -$0.14, outperforming expectations for a -$0.27 loss.

Revenue reached $9.8 billion, exceeding expert estimates of $9.65 billion, but declined 6% year-on-year from $10.4 cardinal successful the aforesaid play past year.

The driblet successful gross was chiefly driven by a 7% autumn successful section pricing and a 2% alteration successful volumes, partially offset by a 3% affirmative interaction from currency movements.

Operating EBIT came successful astatine $154 million, down $76 cardinal compared with a twelvemonth earlier, mostly owed to little pricing, though partially mitigated by savings from cost-cutting initiatives. The institution besides halted designation of equity losses from its Sadara associated task during the 4th aft liabilities reached their carrying value.

“In the archetypal quarter, our results bespeak the increasing interaction of Dow’s self-help actions,” said Jim Fitterling, seat and CEO. “Additionally, the borderline backdrop began to positively inflect successful March pursuing planetary proviso constraints, arsenic impacts from the struggle successful the Middle East rapidly became widespread.”

Total volumes declined 2% year-on-year, with Industrial Intermediates & Infrastructure peculiarly affected by the Middle East conflict.

The Packaging & Specialty Plastics conception reported income of $4.9 billion, down 7% from a twelvemonth earlier, portion Performance Materials & Coatings remained dependable astatine $2.1 billion.

Cash generated from operating activities successful continuing operations roseate to $1.1 billion, up by $1.0 cardinal year-on-year, supported chiefly by a outgo received from NOVA Chemicals and improvements successful moving capital.

Dow Inc banal price