Dow's first-quarter sales and profits double

Recently, Dow announced that the company's first-quarter net sales were $15.3 billion, an increase of 28% year-on-year, with growth in all operating segments, business units and regions. Operating earnings before interest and taxes (EBIT) were $2.4 billion, up $865 million year-over-year, with growth across all operating segments.

Jim Fitlin, chairman and CEO of Dow, commented on the performance: "This year marks the 125th anniversary of Dow's establishment, and the Dow team achieved excellent performance in the first quarter of both year-on-year and quarter-on-quarter growth in revenue and profit. Demonstrated our strengths in product portfolio differentiation, raw material flexibility, and continued focus on disciplined operations. Despite rising energy costs, we captured healthy demand dynamics in end markets and achieved solid volume growth, price It's up and margins are up."

The financial report shows that in the first quarter, Dow's net sales increased by 6% from the previous quarter, mainly driven by the growth of the two operating segments of functional materials and coatings, packaging and special plastics; EBIT increased by 7% from the previous quarter, functional materials and coatings, Higher raw material and energy costs were offset by higher prices and lower planned maintenance activities in the Industrial Intermediates and Infrastructure operating segments.

Going forward, Dow's global scale, cost advantage and industry-leading flexibility in raw materials and derivatives will continue to make its financial and operating performance resilient.