Dow Pops Amid Financial Results For the Third Quarter

Yesterday, Dow made an announcement about the financial results for this quarter. GAAP earnings for every share are $2.23 while operating earnings per share are about $2.75, which is higher compared to the previous year’s $0.50. The net sales totaled $14.8 billion which demonstrated growth of approximately 53% than in the last year. The local price gained 50% while in the last year it has gained only 5%. Additionally, the volume humped for 2% and it is similar to the precious’s year report.

The announced equity earnings are $249 million, which is higher for $189 million in 2020. The growth is mainly related to the expansion of margins as Sadara and the Kuwait joint ventures. However, the equity earnings plunged  $29 million than in the last quarter. According to the results, GAAP Net Income resulted in  $1.7 billion. Operating EBIT is $2.9 billion, which shows the rise of more than $2.1 billion from the last year. During the quarter, the return to the shareholders is $918 million while the dividends are $518 million.