Dow Profits Drop 34% on Charges

Dow Chemical reported a 34% earnings decline on restructuring charges and lower sales across several businesses, but large gains in seeds and crop protection helped the world’s second-largest chemical company beat analysts’ expectations. The company posted net income of $412 million for its fiscal first quarter ended March 31, compared with $625 million in the same year-ago period. Excluding one-time items, including restructuring efforts announced in April in response to weak European demand, net income fell 25%, to $714 million....

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