Dow Q3 Sales Rise 13% as Local Price Gains Offset Lower Volume

Dow Inc. recorded $11.267 billion in net sales for the quarter ended Sept. 30, a 13% increase from a year earlier, as a 14% rise in local price outweighed a 1% decline in volume. Currency had no year-over-year impact, and sales rose across all three operating segments.

Packaging & Specialty Plastics led the segment gains, with sales up 18% to $5.778 billion. Industrial Intermediates & Infrastructure sales increased 8% to $3.058 billion, while Performance Materials & Coatings also gained 8%, reaching $2.250 billion.

Regional shipments grew outside Asia Pacific, where the Middle East conflict had its strongest effect. The regional gains did not prevent an overall volume decline for the quarter.

GAAP net income climbed to $525 million from $124 million. Diluted GAAP earnings were 62 cents per share. Operating earnings, a non-GAAP measure, were 71 cents per share, compared with an operating loss of 19 cents per share in the year-earlier quarter.

Operating EBIT rose $707 million year over year to $887 million. Higher prices and cost-saving actions more than offset increased raw-material and logistics costs.

“Dow delivered a solid third quarter, driven by targeted downstream growth and disciplined execution against an evolving macro backdrop,” Dow CEO Karen S. Carter said.

The results follow Dow’s second-quarter sales growth, when net sales increased 20% year over year to $12.1 billion.