| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 9.8K | 6.1% |
| Total Income | 9.8K | 6.1% |
| Expenditure | 10.3K | 5.1% |
| PBT | -390.00 | 4.3% |
| Net Profit | -533.00 | 73.6% |
| OPM | — | |
| NPM | -5.44% | 2.50pp |
| EPS | -0.74 | 68.2% |
Dow Reports Q1 2026 Net Sales of $9.8 Billion, Down 6% Y-o-Y
23 Apr 2026 · 23 Apr, 4:28 pm
Summary
Dow Inc. reported first quarter 2026 results, with net sales of $9.8 billion, down 6% year-over-year. The decrease in sales reflects declines in most operating segments. GAAP net loss was $445 million, and operating EBIT was $154 million, a decrease of $76 million year-over-year. CEO Jim Fitterling noted the growing impact of Dow’s self-help actions and the positive inflection in margins during March due to global supply constraints.
Key Highlights
- 1
Net sales were $9.8 billion, a decrease of 6% year-over-year, reflecting flat sales in Performance Materials & Coatings and declines in other operating segments.
- 2
Volume decreased 2% year-over-year, driven by declines in Industrial Intermediates & Infrastructure, impacted by the Middle East conflict.
- 3
GAAP net loss was $445 million, while operating EBIT was $154 million, down $76 million year-over-year.
- 4
GAAP loss per share was $0.74, and operating earnings per share was a loss of $0.14, compared to earnings of $0.02 in the year-ago period.
- 5
Cash provided by operating activities from continuing operations was $1.1 billion, up $1.0 billion year-over-year.
- 6
Returns to shareholders totaled $252 million of dividends in the quarter.
- 7
Packaging & Specialty Plastics segment net sales in the quarter were $4.9 billion, down 7% versus the year-ago period.
Management Comments
Jim Fitterling
In the first quarter, our results reflect the growing impact of Dow’s self-help actions. Additionally, the margin backdrop began to positively inflect in March following global supply constraints, as impacts from the conflict in the Middle East quickly became widespread. The strength of Dow’s advantaged portfolio is a clear differentiator, enabling us to win in our key end markets. Our unmatched Americas manufacturing footprint, leading European feedstock flexibility and agile global supply chains allow us to continue to innovate and serve our customers safely and reliably through all cycles and macroeconomic conditions. We also remain steadfast in our commitment to Transform to Outperform, which is already becoming a catalyst for growth, productivity and sustained value creation well into the future.
Jim Fitterling
We are already seeing rapid positive momentum from our announced pricing actions in every business and every region, as well as constructive impacts to our operating rates. We are leveraging Dow’s purpose-built asset footprint, well-established supply chain routes and leading asset reliability to prioritize our customers and navigate the conflict in the Middle East. At the same time, our teams remain focused on capturing growth in attractive markets while delivering cost savings and cash support. Transform to Outperform aims to radically simplify how we operate, reengineer our processes and cost structures and modernize how we serve our customers. These collective actions position the Company for improved growth and productivity, expanded margins, and higher shareholder returns across the cycle.
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