Dow Inc. has announced its first quarter 2025 results, reporting a net sales figure of $10.4 billion, which reflects a 3% decrease year-over-year. The company also reported a volume increase of 2% compared to the year-ago period, with gains in all regions except Latin America. However, local price was down 3% year-over-year, reflecting declines in all operating segments.
The company reported a GAAP net loss of $290 million and operating EBIT of $230 million, down $444 million year-over-year. Sequentially, operating earnings per share showed an improvement of $0.02 compared to the prior quarter.
In terms of cash flow, Dow reported that cash provided by operating activities from continuing operations was $104 million, down $356 million year-over-year. Sequentially, cash from operating activities was down $707 million, primarily related to a seasonal working capital build.
Dow also announced an action plan to further reduce spending, right-size capacity, and deliver $6 billion in cash support. This plan includes delaying the construction of the Fort Saskatchewan Path2Zero project and expanding the company’s previously announced review of European assets.
The company expects to receive up to approximately $3 billion from its strategic growth-aligned partnership with Macquarie Asset Management to create a newly formed infrastructure-focused company, among other measures, to effectively manage the extended downcycle.
In terms of segment highlights, the Packaging & Specialty Plastics segment reported net sales of $5.3 billion, down 2% versus the year-ago period. The Industrial Intermediates & Infrastructure segment reported net sales of $2.9 billion, down 5% versus the year-ago period, while the Performance Materials & Coatings segment reported net sales of $2.1 billion, down 4% versus the year-ago period.
Today the company's shares have moved -0.5% to a price of $28.85. Check out the company's full 8-K submission here.
