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Dow Inc | 10-Q: Q3 2024 Earnings Report

SEC ·  Oct 25, 2024 19:57

Summary by Futu AI

Dow Inc. reported Q3 2024 net sales of $10.9 billion, up 1% from Q3 2023, with volume up 1% and local price flat. Net income available for common stockholders was $214 million ($0.30 per share), compared to $302 million ($0.42 per share) in Q3 2023. Operating EBIT was $641 million, up from $626 million in Q3 2023, driven by lower raw material costs and higher selling prices.The company's segment performance was mixed, with Packaging & Specialty Plastics revenue up 1% to $5.5 billion, Industrial Intermediates & Infrastructure down 2% to $3.0 billion, and Performance Materials & Coatings up 4% to $2.2 billion. Cash provided by operating activities was $800 million in Q3, down $858 million compared to Q3 2023, reflecting challenging macroeconomic conditions.Looking ahead, Dow maintains strong financial flexibility with $12.7 billion in cash and available credit facilities at quarter-end. The company issued $1.25 billion in green bonds to support its sustainability initiatives, including the Fort Saskatchewan Path2Zero project. Dow continues to return value to shareholders through a $0.70 quarterly dividend and repurchased $94 million of shares during Q3 2024.
Dow Inc. reported Q3 2024 net sales of $10.9 billion, up 1% from Q3 2023, with volume up 1% and local price flat. Net income available for common stockholders was $214 million ($0.30 per share), compared to $302 million ($0.42 per share) in Q3 2023. Operating EBIT was $641 million, up from $626 million in Q3 2023, driven by lower raw material costs and higher selling prices.The company's segment performance was mixed, with Packaging & Specialty Plastics revenue up 1% to $5.5 billion, Industrial Intermediates & Infrastructure down 2% to $3.0 billion, and Performance Materials & Coatings up 4% to $2.2 billion. Cash provided by operating activities was $800 million in Q3, down $858 million compared to Q3 2023, reflecting challenging macroeconomic conditions.Looking ahead, Dow maintains strong financial flexibility with $12.7 billion in cash and available credit facilities at quarter-end. The company issued $1.25 billion in green bonds to support its sustainability initiatives, including the Fort Saskatchewan Path2Zero project. Dow continues to return value to shareholders through a $0.70 quarterly dividend and repurchased $94 million of shares during Q3 2024.

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