Dow Chemical Reporting Lower Earnings in the Second Quarter
7-26-12-Dow Chemical (NYSE:DOW) seeing lower-than-expected earnings for the third quarter. The company posted an EPS of 55 cents, lower than the 64 cent analyst estimate. Revenue for the quarter was down to $14.5 billion, also below the estimate of $15.6 billion. Dow's performance could be due to the price of plastic declining in the quarter as well as headwinds in Europe and slowing growth in Asia. The company is still expanding though. It and its partner Saudi Arabian Oil Co. are spending $20 billion on factories for making petrochemicals due to start in 2015.Dow's earnings are weighing on its shares. The company's stock is down over 3%. For more coverage and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com.
|Dow Chemical Reporting Lower Earnings in the Second Quarter|