Dow Inc (DOW) Options

Dow reports second quarter 2024 results

Source: PR Newswire (US)
MIDLAND, Mich., July 25, 2024 /PRNewswire/ -- Dow (NYSE: DOW):

Dow, Inc. (PRNewsfoto/The Dow Chemical Company)

FINANCIAL HIGHLIGHTS

GAAP earnings per share was $0.62; operating earnings per share (EPS)1 was $0.68, compared to $0.75 in the year-ago period and $0.56 in the prior quarter. Operating EPS excludes significant items in the quarter related to restructuring and efficiency costs totaling $0.06 per share.
Net sales were $10.9 billion, down 4% versus the year-ago period. Sales were up 1% sequentially, driven by gains in Performance Materials & Coatings and Packaging & Specialty Plastics.
Volume increased 1% versus the year-ago period, with gains led by the U.S. & Canada. Sequentially, volume increased 1%, with gains in all regions except Asia Pacific, which was flat. Excluding Hydrocarbons & Energy, volume increased 4% year-over-year and 2% sequentially.
Local price decreased 4% year-over-year. Sequentially, local price increased 1%, led by gains in Europe, the Middle East, Africa and India (EMEAI).
Currency decreased net sales by 1% both year-over-year and sequentially.
Equity earnings were $26 million, an $83 million improvement compared to the year-ago period, driven by gains at the Kuwait and Sadara joint ventures. Sequentially, equity earnings were up $9 million.
GAAP net income was $458 million. Operating EBIT1 was $819 million, down $66 million year-over-year, primarily driven by lower integrated margins and higher planned maintenance activity, which were partly offset by improved equity earnings. Sequentially, Op. EBIT was up $145 million, reflecting gains in Performance Materials & Coatings and Packaging & Specialty Plastics.
Cash provided by operating activities – continuing operations was $832 million, down $515 million year-over-year and up $372 million compared to the prior quarter due to stronger cash flow conversion1 and a release of working capital.
Returns to shareholders totaled $691 million in the quarter, including $491 million in dividends and $200 million in share repurchases.

Dow reports first quarter 2024 results

Source: PR Newswire (US)
MIDLAND, Mich., April 25, 2024 /PRNewswire/ -- Dow (NYSE: DOW):

Dow, Inc. (PRNewsfoto/The Dow Chemical Company)

FINANCIAL HIGHLIGHTS

GAAP earnings per share was $0.73; operating earnings per share (EPS)1 was $0.56, compared to $0.58 in the year-ago period and $0.43 in the prior quarter. Operating EPS excludes significant items in the quarter, including income tax-related items and restructuring and efficiency costs, totaling $0.17 per share.
Net sales were $10.8 billion, down 9% versus the year-ago period. Sales were up 1% sequentially, driven by gains in Performance Materials & Coatings and Industrial Intermediates & Infrastructure.
Volume increased 1% versus the year-ago period, with gains in all regions except Europe, the Middle East, Africa and India (EMEAI). Excluding Hydrocarbons & Energy, volume increased 5% year-over-year. Sequentially, volume increased 1%, led by Performance Materials & Coatings. Excluding Hydrocarbons & Energy, volume increased 3% sequentially.
Local price decreased 10% year-over-year. Sequentially, local price was flat, as modest gains in EMEAI were offset by slight declines in Asia Pacific and the U.S. & Canada.
Currency was flat both year-over-year and sequentially.
Equity earnings were $17 million, a $65 million improvement compared to the year-ago period and up $24 million sequentially, reflecting improvements in all of the Company's principal joint ventures.
GAAP net income was $538 million. Operating EBIT1 was $674 million, down $34 million year-over-year, driven by lower prices. Sequentially, Op. EBIT was up $115 million, reflecting gains in Performance Materials & Coatings and Industrial Intermediates & Infrastructure.
Cash provided by operating activities – continuing operations was $460 million, down $71 million year-over-year and down $1.2 billion compared to the prior quarter due to a normal seasonal increase in working capital, as sales progressively increased during the quarter.
Returns to shareholders totaled $693 million in the quarter, including $493 million in dividends and $200 million in share repurchases

Dow reports fourth quarter 2023 results

Source: PR Newswire (US)
MIDLAND, Mich., Jan. 25, 2024 /PRNewswire/ -- Dow (NYSE: DOW):

www.dow.com (PRNewsfoto/The Dow Chemical Company)

FINANCIAL HIGHLIGHTS

GAAP loss per share was $0.15; operating earnings per share (EPS)1 was $0.43, compared to $0.46 in the year-ago period and $0.48 in the prior quarter. Operating EPS excludes significant items in the quarter, totaling $0.58 per share, primarily from a one-time non-cash settlement charge aligned to our pension de-risking plans.
Net sales were $10.6 billion, down 10% versus the year-ago period, reflecting declines in all operating segments due to slower global macroeconomic activity. Sales were down 1% sequentially, as price and volume gains in Packaging & Specialty Plastics were more than offset by seasonal demand declines in Performance Materials & Coatings.
Volume increased 2% versus the year-ago period, with gains across all regions except Asia Pacific, which was flat. Sequentially, volume decreased by 1%, including the impact to our Bahía Blanca, Argentina site due to a severe, unexpected storm in December.
Local price decreased 13% year-over-year, with declines in all operating segments, due to lower feedstock and energy costs. Sequentially, local price was flat, reflecting modest gains in most regions.
Currency increased 1% year-over-year and was flat sequentially.
Equity losses were $7 million, compared to equity losses of $43 million in the year-ago period, primarily due to improved equity earnings at the Kuwait joint ventures. Sequentially, equity losses were flat.
GAAP net loss was $95 million. Operating EBIT1 was $559 million, down $42 million year-over-year, primarily driven by lower prices. Sequentially, Op. EBIT was down $67 million, as gains in Packaging & Specialty Plastics were more than offset by seasonally lower volumes in Performance Materials & Coatings.
Cash provided by operating activities – continuing operations was $1.6 billion, down $450 million year-over-year and down $30 million compared to the prior quarter. Free cash flow1 was $870 million.
Returns to shareholders totaled $616 million in the quarter, including $491 million in dividends and $125 million in share repurchases.
The Company delivered 2023 full year net sales of $44.6 billion compared to $56.9 billion in 2022. GAAP net income was $660 million, down from $4.6 billion in 2022. Operating EBIT was $2.8 billion, down from $6.6 billion last year. Cash provided by operating activities – continuing operations was $5.2 billion compared to $7.5 billion in 2022. The Company delivered returns to shareholders of $2.6 billion through $2 billion in dividends and $625 million in share repurchases in 2023.

Ryan Baker left the Dow chemical for OxyChem, I wonder if this will move the share price.

2Q 2023 RESULTS

https://s23.q4cdn.com/981382065/files/doc_financials/2023/q2/Dow_2Q23_Earnings_Presentation.pdf#xd_co_f=MDg4YzY4ZWEtMjlmYS00MTg2LTljMjUtOTQxN2FmNGE4OGNl~

Dow reports first quarter 2023 results

Source: PR Newswire (US)
MIDLAND, Mich., April 25, 2023 /PRNewswire/ -- Dow (NYSE: DOW):

www.dow.com (PRNewsfoto/The Dow Chemical Company)

FINANCIAL HIGHLIGHTS

GAAP loss per share was $0.13; operating earnings per share (EPS)1 was $0.58, compared to $2.34 in the year-ago period and $0.46 in the prior quarter. Operating EPS excludes significant items in the quarter, totaling $0.71 per share, primarily due to restructuring costs and a litigation matter.
Net sales were $11.9 billion, down 22% versus the year-ago period, reflecting declines in all operating segments driven by slower global macroeconomic activity. Sales were flat sequentially, as gains in Performance Materials & Coatings and Packaging & Specialty Plastics offset declines in Industrial Intermediates & Infrastructure.
Volume decreased 11% versus the year-ago period, led by a 15% decline in Europe, the Middle East, Africa, and India (EMEAI). Sequentially, volume increased by 2%, due to gains in Performance Materials & Coatings and Packaging & Specialty Plastics.
Local price declined 10% versus the year-ago period and 4% sequentially, with declines in all operating segments and regions due to industry supply additions amidst continued soft global economic conditions.
Currency decreased net sales by 1% year-over-year, and increased net sales by 2% sequentially.
Equity losses were $48 million, compared to equity earnings of $174 million in the year-ago period, driven by declines at the Company's principal joint ventures. Equity losses were $43 million in the prior quarter. Sequentially, the earnings decline was primarily driven by planned maintenance activity at Sadara.
GAAP net loss was $73 million. Operating EBIT1 was $708 million, down $1.7 billion versus the year-ago period, with declines in all operating segments due to lower local prices and reduced operating rates to match market dynamics. Sequentially, Op. EBIT was up $107 million, primarily driven by Performance Materials & Coatings.
Cash provided by operating activities – continuing operations was $531 million, down $1.1 billion year-over-year and down $1.5 billion compared to the prior quarter. The Company delivered cash flow conversion1 of 85% on a trailing 12-month basis.
Returns to shareholders totaled $621 million in the quarter, including $496 million in dividends and $125 million in share repurchases.

DOW announces a $0.70/share Dividend:

https://finance.yahoo.com/news/dows-nyse-dow-dividend-0-122612288.html

Best wishes,
OAG

Here's "Simply Wall St" take on how DOW is looking in the future:

"f you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. So on that note, Dow (NYSE:DOW) looks quite promising in regards to its trends of return on capital."

Article:
https://finance.yahoo.com/news/underlying-return-capital-trends-dow-133304044.html

Best wishes,
OAG Tom

Here's my trading around the core history with DOW:



It can be compared to the StockMarketEye graphic in the previous post.

OAG

While long on DOW, I do find trading in sync with some technical signals helpful. Generally my model is selling when Williams % R is up near -20 and am buying when it's below -80. The model's trade activity also is contrary to Accumulation and Distribution. It tends to be buying when other's are in distribution mode and be selling when the markets are showing "Accumulation."

Some morons have a longer time perspective than others.


Potential price appreciation on the 3-5 year time horizon looks like a reasonable bet for those willing to manage share inventory as prices cycle.

In the mean time clipping some dividend coupons doesn't hurt.

Best wishes,
OAG

That’s like what 1.5% over risk free at the moment? Only a moron would need that

Earnings will trend down, stock prices trend down, interest rates will go up

Maybe someone needs the 5.56% dividend yield.......

$2 PT nobody needs this garbage

Picked some up a month ago. Ridiculous dividend.

agree > good Div

A decent yield of over 4% which is nice while I wait to trade around my core position.
OAG Tom

looking good DOW

Hi Broke, Re: DOW..............

I last added shares at $57.85. I'll add more if the price/share gets down nearer $50. Decent yield right now at about 4.7%/Yr.

Best wishes,
OAG Tom

58.84

57

got more this week

Div is due at the end of Sept.

Effective yield on share price today is about 5%. Better than a money market fund!

OAG Tom

when is next div date

Agreed on the need for some consolidation. The supply chain bottleneck is going to have an effect on their revenues that, imo, will not be made up by higher prices charged to their customers.

A lot of zigging and zagging ahead of the next dividend (due in May). DOW would have to drop another ~$10/share before I'll add to my position, however.

Best wishes,
OAG

DOW chart

higher & higher DOW

New 52 Week High today.

OAG

59

One would think DOW's yield at over 5% would attract some attention. If the dividend can survive the company's current lack of earnings the stock should at least maintain its current price range.

OAG Tom

VIX is out of control

Hopefully Big Tech hold up with the Feds on their butt cheeks and the Dow falling with Covid shuts down with re-election negativity big tech Fangs May take a big hit even if earnings look good.

6 percent work force reduction

https://www.wsws.org/en/articles/2020/07/30/dows-j30.html

Loaded today! No brainer here at all !

After last week, DOW is starting to look scrumptious again.

Canadian Court Orders Nova Chemicals to Pay Dow CAD$1.43 Billion Judgment

Opinion: Five dividend stocks to buy because insiders love them
Published: Aug 27, 2019

https://www.marketwatch.com/story/five-dividend-stocks-to-buy-because-insiders-love-them-2019-08-27

Dow Stock Is Cheap for Too Many Reasons
DOW cannot blame all of its problems on external factors

By Will Healy, InvestorPlace Contributor Aug 22, 2019, 3:06 pm

https://investorplace.com/2019/08/dow-stock-cheap-many-reasons/

Great dividend yield as well.

Dude, it's not a trap. It's the stock market.

got some yesterday, 100 @ $51.80

My thesis is that while people are freaking out about US/China, there are great opportunities being created. I'm also a contrarian when it comes to chemicals- despite environmental concerns, lawsuits-NOISE!




MY OPINION ONLY! Do not ever rely on other people's opinions about YOUR money. That includes so-called "pros."

Is this a trap. Do we fall further

Got some, 75@$55.

Surprised at lack of activity today......

"One word.....""Plastics""

MY OPINION ONLY!!!!!!

What did the DOW shares price at?

THX, missed this by a week......

THERE! We are home again!

So much for that little exercise...

Yo!

Much of the spin offs, I think, will depend on number of shares issued, initial valuation, and multiplals applied, I think. Revs should be good, if not better.. We need an initial valuation of $50-$60 for Dow & DD, at least... Breen should have a list of spinoffs set, as should Fitterling. Looking for Breen to appreciate stock values 300%, which is low, for his past history... I like the Dow dividends going forward. We shall see.. I’m still buying.

What you thinking?

Hello Dani sorry for the delay! What are your thoughts on the first spin off?

Thanks

How ya doing Eagle? Still flyin?

Few more months, this site should be more active again!

How ya doing Eagle? Still flyin?

Agree with this writer...

https://seekingalpha.com/article/4129678-dowdupont-significant-asymmetrical-risk-reward-opportunity

Maybe even $135..