Jefferies Raises Price Target on Dow Chemical (DOW) Following 1Q Earnings Report

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Go back to Jefferies Raises Price Target on Dow Chemical (DOW) Following 1Q Earnings Report

Dow Chemical's margins hit decade high on pre-merger cost-cutting

April 28, 2016 6:49 AM EDT

By Amrutha Gayathri and Swetha Gopinath

(Reuters) - Dow Chemical Co (NYSE: DOW), the No. 1 U.S. chemical maker by sales, reported a higher-than-expected adjusted profit as cost cutting ratcheted up margins to their highest in more than a decade.

Dow has been clearing the decks ahead of its $130 billion merger with traditional rival DuPont (NYSE: DD) by slashing administration costs and laying off employees.

The deal, due to close later this year, is the first step toward breaking the businesses into three separate companies focused on... More

Dow Chemical (DOW) Tops Q1 EPS by 6c

April 28, 2016 6:46 AM EDT

Dow Chemical (NYSE: DOW) reported Q1 EPS of $0.89, $0.06 better than the analyst estimate of $0.83. Revenue for the quarter came in at $10.7 billion versus the consensus estimate of $10.66 billion.

Highlights and Commentary:

Volume rose 4 percent, excluding the impact of divestitures and acquisitions. Growth in North America (up 6 percent), Europe, Middle East, Africa and India (up 4 percent) and Asia Pacific (up 3 percent) more than offset a decline in Latin America (down 4 percent). Volume grew in the emerging geographies, as results in Greater China (up 5 percent) and India (up 13 percent) reflected solid... More