Dow beats by $0.21, beats on revs (48.55)
- Reports Q3 (Sep) earnings of $0.50 per share, excluding non-recurring items, $0.21 better than the S&P Capital IQ Consensus of $0.29; revenues fell 9.8% year/year to $9.71 bln vs the $9.51 bln S&P Capital IQ Consensus.
- Volume declined 1% versus the year-ago period. Sequentially, volume increased 9% with all operating segments and regions delivering gains on improved industry demand trends across furniture & bedding, appliances, packaging, construction and automotive end markets.
- OUTLOOK (commentary)
- "We enter the fourth quarter with sequential momentum, improved financial flexibility, and a consistent focus on cash which will continue to benefit us as the gradual recovery strengthens and broadens. I am tremendously proud of the Dow team's discipline in the face of the pandemic and multiple natural disasters. Although the third quarter rebound was significant, the recovery has been uneven across markets, and we expect this will continue in the near term. We are determined to continue delivering against our strategic and operational objectives. Our proactive and agile approach to evolving market conditions -- combined with our fundamental competitive advantages of industry-leading feedstock flexibility, geographic breadth, and participation in diverse end markets and technologies -- will enable us to continue to build on our performance and advance our ambition."