Dow Chemical Co (NYSE:DOW) has released its earnings report for the second quarter of 2016.
Here are a few things to know about Dow Chemical’s earnings report for the second quarter of the year.
- The company reported earnings per share of 95 cents for the quarter.
- Earnings per share from the same time in 2015 was 91 cents.
- Wall Street was expecting the company to report earnings per share of 86 cents in the second quarter of the year.
- Down Chemical reported revenue of $11.95 billion during its second quarter of 2016.
- Revenue reported by the company during the same time of last year was $12.91 billion.
- Wall Street analysts were expecting DOW to report revenue of $11.24 billion in this quarter.
- Cash flow from operations grew to $2.2 billion in the second quarter of the year from $1.4 billion in the second quarter of 2015.
- It reported savings of $90 million during the quarter, which brings it to $180 million so far this year as it heads toward its goal of $300 million in 2016.
- DOW also completed its ownership restructure of Dow Corning Corporation’s Silicones business, which gives it a synergy run rate of $500 million.
- Sale volume increase by 2% as the company reported increases in all regions.
“Despite the varied economic landscape, we continue to see favorable conditions and robust demand in our core consumer-led markets of packaging, automotive and construction throughout the world,” Andrew N. Liveris, Dow Chemical’s Chairman and CEO, said while speaking about the company’s outlook.
Dow Chemical is preparing for its merger with E I Du Pont De Nemours And Co (NYSE:DD), which is expected to close later this year if it receives approval from regulators. DuPont released its own earnings for the second quarter of 2016 earlier this week.
DOW shares were up slightly as of Thursday morning.
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