Shares of Dow Inc. undefined slipped 0.6% in premarket trading Thursday, after the specialty chemicals company reported third-quarter profit and sales that...
Shares of Dow Inc. slipped 0.6% in premarket trading Thursday, after the specialty chemicals company reported third-quarter profit and sales that fell from a year ago, as higher energy costs hurt margins, but still beat expectations. The company said it has outlined plans to cut costs by $1 billion in 2023 as the macroeconomic environment remains"dynamic." Net income dropped to $760 million, or $1.02 a share, from $1.71 billion, or $2.23 a share, in the year-ago period.
The company said it has outlined plans to cut costs by $1 billion in 2023 as the macroeconomic environment remains"dynamic." Net income dropped to $760 million, or $1.02 a share, from $1.71 billion, or $2.23 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.11 was down 60% from a year ago but topped the FactSet consensus of $1.08. Sales declined 4.9% to $14.12 billion, but was well above the FactSet consensus of $13.
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