| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 12.1K | 23.5% | 19.7% |
| Total Income | 12.1K | 23.5% | 19.7% |
| Expenditure | 11.3K | 10.0% | 4.7% |
| PBT | 871.00 | 323.3% | 232.2% |
| Net Profit | 721.00 | 235.3% | 186.3% |
| OPM | — | ||
| NPM | 5.96% | 11.41pp | 14.23pp |
| EPS | 0.99 | 233.8% | 183.9% |
Dow Reports Strong Second Quarter 2026 Results
23 Jul 2026 · 23 Jul, 4:31 pm
Summary
Dow Inc. announced strong second quarter 2026 results, with net sales reaching $12.1 billion, a 20% increase year-over-year, reflecting broad-based growth across all segments and regions. The company reported a significant turnaround in profitability, with Operating EBIT at $1.6 billion, up $1.7 billion from the prior year, and operating EPS of $1.44 compared to a loss of $0.42. Management highlighted disciplined execution, accelerating self-help actions, and supportive market conditions as key drivers for the improved performance. The company also raised its expected benefits from the 'Transform to Outperform' initiative.
Key Highlights
- 1
Dow reported second quarter 2026 net sales of $12.1 billion, an increase of 20% year-over-year, driven by gains across all operating segments and regions.
- 2
Operating EBIT for the quarter was $1.6 billion, a significant improvement of $1.7 billion compared to the prior year period.
- 3
GAAP earnings per share (EPS) was $0.99, and operating EPS was $1.44, compared to a loss of $0.42 in the year-ago period.
- 4
Net sales in the Packaging & Specialty Plastics segment increased by 27% to $6.4 billion, driven by higher polyethylene prices.
- 5
The Industrial Intermediates & Infrastructure segment saw net sales rise by 14% to $3.2 billion, with improved margins.
- 6
Performance Materials & Coatings segment net sales grew 11% to $2.4 billion, despite higher fixed costs impacting EBIT.
- 7
Cash provided by operating activities from continuing operations was $1.3 billion for the quarter.
Management Comments
Karen S. Carter
Team Dow delivered strong second quarter results through disciplined and timely execution, reliably serving our customers, and accelerating our self-help actions. Market conditions were supportive this quarter, and our self-help initiatives delivered ahead of plan, further reinforcing the improvement in our earnings as we continue to strengthen Dow’s resilience and agility. We now expect to generate approximately $200 million more in benefits from Transform to Outperform this year, enabling us to increase the total in-year benefits from self-help to greater than $1.3 billion. Our actions to become a leaner, more competitive company position Dow well to continue winning with our customers while delivering enhanced long-term shareholder value. As we look into the second half of 2026, we will continue to build a more agile and resilient company that sets a new competitive standard. We will do so by advancing three priorities: growth and innovation in attractive end markets, investing in and strengthening our portfolio, and ensuring balanced capital allocation. Aligned to this, Transform to Outperform is delivering improvements in both growth and productivity, and we expect the impact of these efforts to ramp significantly throughout the remainder of this year and into 2027. Taken together, our collective actions are focused on enhancing the long-term value Dow delivers across the cycle.
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