Dow Looks to Long-Term Goals Following Tough Second Quarter
Dow’s net sales were $11 billion in the 2019 second quarter, in line with the company’s guidance and down 14% vs. pro forma results in the 2018 second quarter.
Dow recently released its financial results for the second quarter of 2019. Net sales were $11 billion, in line with the company’s guidance and down 14% vs. pro forma results in the 2018 second quarter, driven primarily by local price declines in polyethylene, siloxanes, and isocyanates, as well as lower sales of hydrocarbon co-products.
Volume in the 2019 second quarter declined 3% vs. pro forma results in the year-ago period, driven primarily by higher ethane feedstock usage and lower hydrocarbon co-product sales, due to increased ethylene integration from the startup of new downstream assets. This was partly offset by demand growth in plastics packaging applications, supported by new capacity on the U.S. Gulf Coast.