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Dow Returns to Profit; Maintains View of Sustained Global Recovery
7:33 AM MDT | August 3, 2010 | Kerri Walsh
Dow Chemical reported second-quarter net income of $651 million (50 cts/share), compared to a loss of $344 million in the year-ago period. Sales jumped 20%, to $13.6 billion helped by a 7% rise in volumes, and a 19% rise in selling prices, Dow says. Earnings were 54 cts/share excluding special items. The consensus of analysts estimates as reported by Thomson Reuters was for 56 cts/share. Unplanned production outages reduced earnings by roughly 7 cts/share and resulted in lost sales of $300 million, a Dow spokesperson says....
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