Chemical company, The Dow Chemical Company (DOW) reported increased first quarter profits on Thursday, beating analysts estimates.
The Midland, MI based company reported first quarter earnings of $550 million, or 46 cents per share, up from $412 million, or 35 cents per share last year. Excluding special items, earnings were $819 million, or 69 cents per share, up from $714 million, or 61 cents per share last year. Analysts expected to see earnings of 61 cents per share.
Revenue for the quarter was $14.38 billion, down -2% from $14.72 billion last year. Analysts expected to see earnings of $14.88 billion. Agricultural Sciences sales increased by 14% during the quarter, passing $2 billion.
Chief Executive Andrew Liveris commented, “two-thirds of the increase in revenues and profit came from new (agricultural science) products. That will continue to set records for us this year, and the next several years.”
Dow Chemical shares were up $1.65, or 5.13% during Thursday morning trading. The stock has declined -6% in the past year.
The Bottom Line
Shares of The Dow Chemical Company (DOW) have a 3.78% yield, based on Thursday morning’s price of $33.89.
The Dow Chemical Company (DOW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.