Dow Chemical Earnings Soar on Higher Volume |
| Wall Street Journal - Apr 28, 2010 |
Dow Chemical Co.'s first-quarter profit soared, beating expectations, on strong sales as prices rose.
"The earnings power of Dow's new portfolio was evident this quarter with our robust sales growth driven by significant volume and price increases in all geographic areas, with notable improvements in North America and Europe," said Chairman and Chief Executive Andrew Liveris.
Looking forward, he noted some challenges remain in areas such as residential and commercial construction in developed economies, inflation concerns in high-growth emerging countries plus sovereign debt issues in southern Europe. However, consumer and business spending is expected to balance out these challenges.
The maker of chemicals used in products from autos to diapers has been in an effort to concentrate on higher-margin products while moving away from basic chemicals that are more exposed to volatile energy prices. Meanwhile, the company has also been deleveraging by ridding assets to pay off debt taken on to finance last April's $16.3 billion acquisition of Rohm & Haas.
Read Full Article from Wall Street Journal
- Posted: 2010-04-28 10:02:18
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