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Jan. 27, 2022, 6:14 a.m. EST

Dow's stock gains after profit, sales rise above expectations

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By Tomi Kilgore

Shares of Dow Inc. /zigman2/quotes/203121064/composite DOW +1.05% gained 0.2% in premarket trading Thursday, after the materials science company reported fourth-quarter profit and sales that rose above expectations, and said it expects supply chain pressures to ease through the year. Net income rose to $1.74 billion, or $2.32 a share, from $1.24 billion, or $1.65 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share was $2.15, above the FactSet consensus of $2.03. Sales grew 34.2% to $14.36 billion, outpacing the 28.9% rise in cost of sales to $11.78 billion. Local price increased 39% from a year ago. Among Dow's business segments, packaging and specialty plastics sales jumped 40.2% to $7.19 billion, industrial intermediates and infrastructure sales increased 29.9% to $4.55 billion and performance materials and coatings sales grew 26.1% to $2.56 billion. "Underlying demand strength and continued operating discipline enabled us to overcome supply and logistics constraints as well as higher raw material and energy costs," said Chief Executive Jim Fitterling. The stock has gained 2.2% over the past three months through Wednesday, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.26% has lost 3.7%.

/zigman2/quotes/203121064/composite
US : U.S.: NYSE
$ 68.27
+0.71 +1.05%
Volume: 2.83M
May 16, 2022 3:31p
P/E Ratio
7.44
Dividend Yield
4.10%
Market Cap
$49.19 billion
Rev. per Employee
$1.63M
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
32,280.37
+83.71 +0.26%
Volume: 238.43M
May 16, 2022 3:31p
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