Dow swings to profit, revenue beats expectations as prices rise

Shares of Dow Inc. DOW, +1.89% edged up 0.5% successful premarket trading Thursday, aft the chemicals institution swung to a second-quarter nett and reported gross that roseate supra expectations, boosted by crisp section terms increases amid stronger demand. Net income was $1.93 billion, oregon $2.51 a share, aft a nonaccomplishment of $217 million, oregon 31 cents a share, successful the year-ago period. Excluding nonrecurring items, operating net per stock was $2.72, beating the FactSet statement of $2.47. Sales jumped 66.2% to $13.89 billion, supra the FactSet statement of $13.13 billion, arsenic each 3 concern segments topped income expectations. Local terms accrued 70% successful packaging and specialty plastics, roseate 53% successful concern intermediates and infrastructure and grew 16% successful show materials and coatings. "Our 2nd 4th results reflected beardown request successful each our worth chains and regions arsenic we achieved important maturation successful income and net some sequentially and year-over-year," said Chief Executive Jim Fitterling. "Looking ahead, we expect net momentum from further improvements successful user spending, planetary question and concern production." The banal has gained 7.6% twelvemonth to day done Wednesday, portion the Dow Jones Industrial Average DJIA, +0.83% has precocious 13.7%.