Dow Chemical beats by $0.06, beats on revs
- Reports Q1 (Mar) earnings of $1.04 per share, $0.06 better than the Capital IQ Consensus of $0.98; revenues rose 23.6% year/year to $13.23 bln vs the $12.46 bln Capital IQ Consensus.
- Price Increases 7%; Volume Growth of 16%, or 4% Excluding Acquisitions, with both Price and Volume Gains in all Geographic Areas
- "The United States remains a bright spot, driven by solid consumer demand and a resurgent manufacturing sector, especially with the pro-business investment policies from the new administration. Europe continues its gradual recovery, and we are encouraged by the return of growth signals aligned to our market focus -- notably in infrastructure, automotive and packaging. In Latin America, we see early signs of gradual improvements in consumer-led markets and robust growth in the agriculture sector, with most economies showing strength, except for Brazil, which remains in a recessionary mode. And finally, China's transition to a consumption economy focused on domestic growth is progressing on a stable path, with strong growth drivers especially for Dow's products, and the rise of the middle class across developing Asia continues to drive strong demand in the region, particularly in Southeast Asia."
- "With this view in mind, Dow is well positioned with the right strategy and portfolio for continued success in these market conditions. Dow's exceptional performance over these last four and a half years will continue, based on our relentless and disciplined focus, delivering consistent earnings growth. This unique ability to deliver in both the short- and long-term for our shareholders -- balancing all value growth levers -- has created a mindset that will serve us well as we drive toward the close of the DowDuPont transaction and the intended spins."