Dow Chemical (NYSE: DOW) reported Q4 EPS of $0.85, $0.16 better than the analyst estimate of $0.69. Revenue for the quarter came in at $14.38 billion versus the consensus estimate of $14.5 billion.

EPS was $0.63 on an as-reported basis.

EBITDA rose 15 percent versus the prior year on an adjusted basis(2), reaching a fourth quarter record of $2.4 billion, or $2.1 billion on an as-reported basis(3). Adjusted EBITDA grew in every operating segment, led by Agricultural Sciences (up 40 percent), Performance Materials & Chemicals (up 18 percent) and Performance Plastics (up 6 percent).

Outlook

Commenting on the Company’s outlook, CEO Andrew Liveris said:

“Against the backdrop of ongoing macroeconomic, currency and energy market uncertainty, we continue to see positive underlying demand fundamentals. Dow is well positioned to continue to optimize returns in this environment: Our advantaged global cost positions are enabling us to increase asset utilization, while selling into higher value sectors. Tightening supply and demand is acting to offset some of the challenges that are a result of falling oil prices.

“Our differentiated technologies and end-market selection will enable us to maximize returns in sectors less susceptible to pricing volatility. Our business model works across all economic cycles, as we can extract value through different parts of our integrated value chains – depending on the cycle. We believe lower oil prices are a relative positive for Dow and a boost for the global economy.

“We will continue to control those factors firmly within our control – demanding operational and commercial excellence, driving proactive portfolio management and productivity actions, executing financial discipline, efficiently managing our cash and investing in people, markets and assets for long-term growth.

“This year will see several major milestones for Dow, with the start-up of the first units in Sadara and our Texas PDH unit in Texas, as well as the controlled launch of Enlist™. As our strategic catalysts continue to gain traction, the advantage they provide will further differentiate Dow against our competitors, fortifying our long-term position and accelerating shareholder remuneration.”

For earnings history and earnings-related data on Dow Chemical (DOW) click here.