Reuters

Price increases help Dow beat estimates for profit, revenue

Dow’s chemicals – used in everything from plastic and food packaging to textiles, electronics and paints – have seen a steady rise in prices on the back of strong consumer and industrial demand as economies emerge from pandemic-led lockdowns, with lower inventories also helping their cause. “Looking ahead, we expect earnings momentum from additional improvements in consumer spending, international travel and industrial production,” Chief Executive Officer Jim Fitterling said. Net income available for Dow stockholders rose to $1.9 billion, or $2.51 per share, in the three months ended June 30, from $991 million, or $1.32 per share, in the first quarter.

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