Dow Chemical (DOW)

Dow Chemical reported Q3 earnings per share of $0.63 on net income of $12.05 billion versus $0.46 per share on net income of $15.37 billion in the year ago period.
Andrew N. Liveris, Dow's chairman and chief executive officer, stated: "Dow once again delivered stronger sequential earnings due to our focus on aggressive price/volume management, accelerating cost reductions, especially with the Rohm and Haas integration, plus benefiting from our global presence with volume gains in emerging geographies. In addition, we are seeing pockets of volume growth in certain businesses versus the prior quarter, primarily in Advanced Materials, Performance Products and Performance Systems, which have benefited from the beginnings of a global economic recovery. Consistent with our focus on execution, immediately following the close of the quarter we also accomplished a key objective by completing the sale of Morton Salt and fully paying off our bridge loan related to the Rohm and Haas acquisition well ahead of schedule, improving the Company's financial flexibility and further deleveraging our balance sheet."

Oct 22 · 12:31:00 PM · Source: Press Release
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by Michael Oliveto