Launches Action Plan to Further Reduce Spending, Right-Size Capacity, and Deliver $6 Billion in Cash Support

MIDLAND, Mich., April 24, 2025 /PRNewswire/ -- Dow (NYSE: DOW):

1Q25 FINANCIAL HIGHLIGHTS

Net sales were $10.4 billion, down 3% year-over-year, reflecting declines in all operating segments. Sequentially, net sales were flat, as seasonally higher demand in Performance Materials & Coatings was offset by lower prices in Industrial Intermediates & Infrastructure.Volume increased 2% compared to the year-ago period, with gains in all regions except Latin America. Sequentially, volume increased 2%, with gains in all operating segments.Local price was down 3% year-over-year, reflecting declines in all operating segments. Sequentially, local price declined 1% as gains in Packaging & Specialty Plastics were more than offset by declines in Industrial Intermediates & Infrastructure and Performance Materials & Coatings.GAAP net loss was $290 million. Op. EBIT1 was $230 million, down $444 million year-over-year, primarily driven by lower prices and higher energy and feedstock costs, which were partly offset by volume gains. Sequentially, Op. EBIT was down $224 million, as volume gains across all operating segments were more than offset by higher energy and feedstock costs.GAAP loss per share was $0.44; operating earnings per share (EPS)¹ was $0.02, compared to $0.56 in the year-ago period and reflecting an improvement of $0.02 compared to the prior quarter. Op. EPS excludes significant items totaling $0.46 per share, primarily driven by restructuring and efficiency costs.Cash provided by operating activities – continuing operations was $104 million, down $356 million year-over-year, primarily driven by earnings pressure from continued soft global industry demand. Sequentially, cash from operating activities was down $707 million, primarily related to a seasonal working capital build.Returns to shareholders totaled $494 million of dividends in the quarter.