Dow beats by $0.01, beats on revs (51.49)
- Reports Q3 (Sep) earnings of $0.47 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $0.46; revenues rose 1.4% year/year to $10.88 bln vs the $10.65 bln FactSet Consensus.
- Volume increased 1% compared to the year-ago period, driven by gains in Performance Materials & Coatings. Sequentially, volume increased 1%, led by gains in Packaging & Specialty Plastics and Industrial Intermediates & Infrastructure.
- Local price was flat year-over-year, as gains in Packaging & Specialty Plastics were offset by decreases in Performance Materials & Coatings. Sequentially, local price was down 1%, reflecting minor declines in all segments.
- Outlook: "Looking forward, we continue to operate with discipline as we capitalize on areas of demand strength and leverage our global scale and advantaged cost positions. As cycle dynamics improve, we remain well-positioned to enable higher returns to shareholders. Our financial strength will continue to support our counter-cyclical growth investments, which are focused in higher-value businesses and regions, particularly where demand is resilient and we have a competitive cost advantage. Altogether, these investments are expected to deliver more than $3 billion in underlying earnings by 2030."