Dow Chemical beats Street 3Q forecasts
Midland — Dow Chemical Co. on Wednesday reported third-quarter earnings of $937 million.
The Midland, Michigan-based company said it had profit of 71 cents per share. Earnings, adjusted for non-recurring costs, came to 72 cents per share.
The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The specialty chemicals maker posted revenue of $14.41 billion in the period, which also beat Street forecasts. Analysts expected $14.3 billion, according to Zacks.
Dow Chemical shares have climbed roughly 9 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. The stock has climbed 17 percent in the last 12 months.