Dow Chemical (DOW) stock was up on Thursday following an earnings beat.
Dow Chemical reported earnings per share of $1.09 for the third quarter of 2015. This beat its earnings per share for the same time last year, which was 71 cents. It also surpassed the 69 cents per share in earnings that analysts were expecting from the company.
Dow Chemical’s revenue for the third quarter of 2015 came in at $12.04 billion. This didn’t meet last year’s revenue of $14.41 billion and the company pins this on pricing and currency. It also failed to meet analysts’ revenue expectations, which were set at $12.38 billion.
“We are operating from a position of financial strength as we continue to execute disciplined portfolio management, as well as start up our large growth investments on the U.S. Gulf Coast and in Saudi Arabia,” Andrew N. Liveris, Chairman and CEO of Dow Chemicals, said in a statement. “All of this will drive earnings higher, enhance return on capital and generate significant cash flow, which continue to fuel our ability to return increasing value to our shareholders.”
DOW shares were up 4% as of Noon Thursday.
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