Dow Chemical Sales Surge 16%
Sales increased to $13.8 billion, up 16% year-over-year.
The Dow Chemical Co. recently announced second quarter 2017 results. Sales increased to $13.8 billion, up 16% year-over-year. Sales rose 8% excluding the addition of Dow Corning’s silicones business, with increases reportedly in all operating segments and all geographic areas. Sales gains were led by performance materials and chemicals (up 13%) as well as performance plastics and consumer solutions (each up 8%), and by EMEAI (up 12%), Asia Pacific (up 8%) and North America (up 7%).
Operating earnings before interest, taxes, depreciation and amortization (EBITDA) reportedly rose 12% to $2.8 billion, with gains in all operating segments, except performance plastics, driven by higher prices, broad-based demand growth, new product introductions, cost controls and productivity measures, and the contribution of Dow Corning’s silicones business. These gains more than offset higher feedstock costs, commissioning and startup costs at Sadara and in the U.S. Gulf Coast and planned maintenance spending.
“This quarter extended Dow’s track record of execution,” said Andrew Liveris, chairman and CEO. "We have now achieved nearly five years, 19 consecutive quarters, of year-over-year operating earnings growth and nearly four years, 15 consecutive quarters, of volume growth. This also marked our third consecutive quarter of delivering an all-time operating EBITDA record. And we continued our relentless focus on self-help productivity and cost-out. Our results speak to the power of our strategy and its key pillars of low-cost integration strength and world-class innovation capabilities, targeted to a focused set of core end-markets that value our materials science expertise. Our portfolio delivers, over and over again, under all economic conditions.”
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