Dow Chemical beats Street 2Q forecasts

Associated Press

Midland — Dow Chemical Co. on Thursday reported second-quarter earnings of $1.32 billion.

On a per-share basis, the Midland-based company said it had profit of $1.07. Earnings, adjusted for non-recurring costs, came to $1.08 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The specialty chemicals maker posted revenue of $13.83 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $13.65 billion.

Dow Chemical shares have risen 16 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 11 percent. The stock has increased 24 percent in the last 12 months.