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Dow's Earnings Nearly Double on Strong Volumes and Higher Selling Prices
8:44 AM MDT | October 28, 2010 | Lindsey Bewley and Kerri Walsh
Dow Chemical's third-quarter net income soared 97%, to $705 million (54 cts/share) on higher volumes and selling prices, excluding one-time items and beating analysts estimates of 41 cts/share. Net income fell 28%, to $512 million (45 cts/share) including those items. Sales rose 7%, to $12.9 billion. Volumes rose 14%, with gains in all geographies and business segments. Average selling prices increased 9%, and more than offset the $585-million rise in purchased feedstock and energy costs, Dow says. The greatest price hikes were in the combined basics segments...
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