Dow Chemical 1st-quarter profit climbs on growing demand and price increases
By APWednesday, April 28, 2010
Dow Chemical 1Q profit climbs
MIDLAND, Mich — Dow Chemical says its first-quarter profit rose as it benefited from growing demand and price increases.
The nation’s largest chemical maker says its revenue climbed 48 percent. Both its earnings and revenue beat Wall Street estimates.
The Midland, Mich., maker of components used in products such as paint, cosmetics and plastic bags says it earned $466 million, or 41 cents per share, after paying preferred dividends. That’s up from $24 million, or 3 cents per share, a year ago.
Excluding certain items, the company earned 43 cents per share. That tops analysts’ average estimate of 30 cents per share.
Dow Chemical Co. says revenue rose to $13.42 billion from $9.04 billion, beating analysts’ estimate of $12.9 billion.
