Summary
Dow Inc. reported strong net sales growth for the second quarter of 2022, reaching $15.7 billion, a 13% increase year-over-year. This growth was primarily driven by a 16% increase in local prices across all segments, reflecting robust demand and rising raw material costs, while overall volume remained flat. Net income available for common stockholders decreased slightly to $1.66 billion from $1.90 billion in the prior year's quarter, leading to diluted earnings per share of $2.26, down from $2.51. The company's financial performance, particularly in its Packaging & Specialty Plastics segment, remained resilient despite inflationary pressures and a challenging global economic environment. Dow also continued its commitment to shareholder returns, repurchasing $800 million in stock and declaring a $0.70 per share dividend.
Financial Highlights
52 data points| Revenue | $15.66B |
| Cost of Revenue | $12.90B |
| Gross Profit | $2.77B |
| SG&A Expenses | $435.00M |
| Interest Expense | $165.00M |
| Net Income | $1.65B |
| EPS (Basic) | $2.28 |
| EPS (Diluted) | $2.26 |
| Shares Outstanding (Basic) | 725.70M |
| Shares Outstanding (Diluted) | 731.50M |
Key Highlights
- 1Net sales increased by 13% to $15.7 billion in Q2 2022, driven by strong pricing power.
- 2Local prices rose by 16% year-over-year across all segments, indicating healthy demand and cost pass-through.
- 3Volume was flat compared to Q2 2021, with growth in Packaging & Specialty Plastics offset by declines in other segments.
- 4Net income available for common stockholders was $1.66 billion, a decrease from $1.90 billion in Q2 2021.
- 5Diluted earnings per share were $2.26, down from $2.51 in the prior year's quarter.
- 6Dow Inc. repurchased $800 million of its common stock in Q2 2022 and declared a $0.70 per share dividend.
- 7The company experienced an unfavorable currency impact of 3% on net sales due to a stronger U.S. dollar.