January 31, 2013 at 09:29 AM EST
Dow Chemical Books a Big Loss in Q4; Revenue Beats View But Adjusted Net Misses (DOW)

The Dow Chemical Company (DOW) reported on Thursday before the bell its fourth quarter earnings, which resulted in a big loss due to charges. The adjusted net income was up versus the prior year, but missed the Wall Street view.

The Midland, Michigan-based company posted a big fourth quarter loss of $716 million, or 61 cents per share, versus a loss of $20 million, or 2 cents per share, in the same period a year earlier.

Dow posted this loss because of items such as restructuring costs and goodwill impairment charges.

Excluding these certain items, adjusted net income rose to $389 million, or 33 cents per share, from $289 million, or 25 cents per share, earned the year earlier. The quarterly EPS missed the Wall Street estimate, according to Thomson Reuters, as analysts were expecting 34 cents per share.

Fourth quarter sales were down -1% to $13.92 billion from $14.1 billion in the same period a year ago. Analysts were expecting revenues of $13.70 billion.

Dow Chemical shares were down $1.27, or -3.67%, during pre-market trading on Thursday. The stock is up +3.44% over the past year.

The Bottom Line
Shares of Dow Chemical (DOW) have a dividend yield of 3.70% based on last night’s closing price of $34.61.

The Dow Chemical Company (DOW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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