Dow earnings drop 39%, but beat estimates

Dow Chemical reported third-quarter net income of $497 million, a 39% decline from the year-ago quarter. Sales were $13.6 billion, down 10%, or 7% excluding the impact of divestitures. Dow’s reported earnings of 42 cts/share were down 32% from the year-ago quarter but 14% above the median analyst estimate of 37 cts/share as reported by Thomson Reuters (New York). Dow reported earnings late Tuesday evening, about 32 hours earlier than scheduled, due to “the inadvertent and premature release of a restructuring announcement.”...

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