Chemicals maker Dow beats quarterly profit estimates

(Reuters) - Chemicals maker Dow beat first-quarter profit estimates on Thursday, helped by higher sales volumes as global manufacturing activity shows signs of growth.

China's manufacturing activity expanded for the first time in six months in March while U.S. manufacturing grew for the first time in about 18 months, benefiting Dow whose products are used in a range of industries.

The company said volumes rose 1% compared to last year, with gains in all regions except Europe, the Middle East, Africa and India.

"In the first quarter, we captured improving demand, maintained pricing and benefited from lower feedstock and energy costs. The strength of our cost-advantaged positions around the world led to higher operating rates," Jim Fitterling, chief executive officer of Dow, said in a statement.

The Midland, Michigan-based company reported operating earnings per share of 56 cents for the quarter ended March 31, compared with the average analyst estimate of 45 cents, according to LSEG data.

(Reporting by Sourasis Bose in Bengaluru; Editing by Maju Samuel)

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