Home / Knowledge / News / Textiles / Dow Chemical sales down 2% in Q1 2013
Dow Chemical sales down 2% in Q1 2013
26
Apr '13
The Dow Chemical Company reported First Quarter 2013 Earnings Statement.

First Quarter 2013 Highlights

-The Company reported earnings of $0.46 per share, or adjusted earnings of $0.69 per share(1). This compares with earnings of $0.35 per share in the year-ago period, or adjusted earnings of $0.61 per share.

-Sales were $14.4 billion, down 2 percent versus the same quarter last year, but were flat excluding the impact of the Company’s Feedstocks and Energy operating segment.

-Agricultural Sciences sales rose 14 percent, surpassing $2 billion, due to accelerated new product sales. Electronic and Functional Materials sales also grew (up 2 percent).

-Volume declined 3 percent, or was flat excluding Feedstocks and Energy. Volume grew in emerging geographies (up 2 percent), led by Latin America (up 6 percent). Volume remained flat in North America, and declined in Western Europe (down 12 percent).

-Strong pricing actions in the quarter delivered local price increases in most operating segments and geographic areas, resulting in a 1 percent increase in price.

-Purchased raw material costs, including hydrocarbons and energy, declined nearly $300 million.

-EBITDA(2) was $2.2 billion, versus $1.7 billion in the year-ago period. Adjusted EBITDA(3) was $2.3 billion, up nearly 10 percent versus the prior year. EBITDA rose in most operating segments, led by increases in Performance Plastics.

-Equity earnings were $230 million, versus $169 million in the same quarter last year, primarily reflecting gains in the Company’s cost-advantaged joint ventures in Kuwait.

-Cash flow from operations increased nearly $500 million versus the year-ago period.

-Dow continued to drive deleveraging actions, reducing gross debt by $901 million in the quarter. In addition, interest expense declined $33 million versus the year-ago period due to ongoing debt reduction.

Review of First Quarter Results

The Dow Chemical Company reported sales of $14.4 billion in the first quarter of 2013, down 2 percent versus the year-ago period. Sales were flat excluding the impact of the Company’s Feedstocks and Energy operating segment.

Volume declined 3 percent, or was flat excluding Feedstocks and Energy. Volume rose in emerging geographies (up 2 percent), with increases led by Latin America (up 6 percent). Volume remained flat in North America, and declined in Western Europe (down 12 percent).

The Company delivered local price increases in most operating segments and geographic areas on account of strong pricing actions in the quarter, which resulted in a 1 percent overall increase in price.

Purchased raw material costs, including hydrocarbons and energy, declined nearly $300 million.

Dow reported EBITDA of $2.2 billion, versus $1.7 billion in the year-ago period. Adjusted EBITDA was $2.3 billion, up nearly 10 percent versus the prior year. EBITDA increased in most operating segments, led by Performance Plastics. Adjusted EBITDA margin(4) expanded 170 basis points, reflecting ongoing price and volume management.

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search