Dow (NYSE: DOW) posted revenues of $14.1 billion, a decline of 5% year-over-year and beating handsomely analysts’ estimates by $1.1 billion.
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Adjusted earnings were $1.11 per share in the third quarter, versus $2.75 in the same period a year back but surpassing Street estimates of $1.08.
Dow’s Chairman and CEO, Jim Fitterling stated, “In the third quarter, Team Dow managed significant macroeconomic headwinds as we swiftly initiated actions and aligned production with supply chain and logistics constraints, prioritized resources toward higher-value products, and reduced operational costs across the enterprise. As a result, we maintained our focus on cash flow generation and continued to execute on our capital allocation strategy, returning $1.3 billion to shareholders.”