Dow reported adjusted profit of 71 cents per share for the quarter ended September 30, compared with analysts' average estimate of 64 cents, according to LSEG data cited by Reuters. The company's shares rose in premarket trading after the October 22 release.
Net sales at the packaging and specialty plastics segment rose more than 18% to $5.8 billion from a year earlier, driven by higher polyethylene and functional polymer prices across all regions. Industrial intermediates and infrastructure sales rose 7.9% to $3.06 billion, and performance materials and coatings rose more than 8% to $2.25 billion.
The closure of the Strait of Hormuz after the escalation of the Iran conflict in late February has disrupted oil and petrochemical flows, tightening global chemical supplies and driving a sharp rise in plastics and polymer prices, Reuters reported.
CEO Karen S. Carter said Dow remains on track to generate more than $1 billion in annual EBITDA uplift in both 2026 and 2027 through cost cuts and portfolio optimization, including closure of higher-cost upstream assets. Dow earlier announced plans to cut 13% of its workforce.
The company has also been reviewing non-producing assets, including power and steam facilities and pipelines, as the industry faces higher feedstock and energy costs and weak demand in key markets.
