IHS Chemical Week

People & Business :: Earnings/Finance

Dow misses estimates, boosts asset sale target

10:46 AM MDT | October 24, 2013 | Rebecca Coons

Dow Chemical posted a nearly 20% gain in third-quarter profits versus last year, although compressed epoxy margins kept results below Wall Street expectations. The company also announced that it has increased its divestiture target to $3-$4 billion—more than double the $1.5-billion target Dow announced in March of this year—as it seeks to revamp its portfolio toward high-margin growth markets less exposed to volatility. Net income for the quarter ended 30 September increased 19.5% year-over-year (YOY) to $594 million, while net sales increased 1% YOY...

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