Reuters logo
Dow Chemical reports five-fold jump in profit
April 27, 2017 / 10:54 AM / 8 months ago

Dow Chemical reports five-fold jump in profit

April 27 (Reuters) - Seeds and chemical maker Dow Chemical Co, which is merging with DuPont, reported a much bigger quarterly profit from a year earlier, when the company recorded charges of $824 million.

Net income available to the company’s shareholders rose to $888 million, or 72 cents per share, in the first quarter ended March 31 from $169 million, or 15 cents per share, a year earlier.

The latest quarter included a $386 million charge, primarily from an arbitration related to its agrosciences business.

The year-earlier charges included $778 million related to the settlement of a 2005 lawsuit that accused Dow and other companies of conspiring to fix prices of urethane chemicals in the preceding six years.

Net sales rose 23.6 percent to $13.23 billion in the latest quarter.

Reporting by Swetha Gopinath and Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below