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08:00
Jul 23 ◎

DOW FY2026 Q2 Watch

Dow Inc. (DOW) FY2026 Q2 Earnings Call

DOW PG LYB WLK ▾

Karen S. Carter

Dow's tone is cautiously optimistic: strong Q2 but guides Q3 lower sequentially; self-help actions are overdelivering, but macro uncertainty & margin compression temper the outlook.

"We delivered solid results in the second quarter. This reflects our industry leadership as we translated improved market fundamentals and disciplined execution into meaningful earnings growth, margin expansion, and cash generation."

DOW WATCH

Karen S. Carter

Dow signed long-term agreements with P&G, securing steady demand for low-carbon products in consumer markets.

"we progress long-term agreements with both P&G and Univar, locking in durable, high-quality demand for low-carbon products across key markets like beauty and personal care"

PG WATCH

Karen S. Carter

Dow's order books have picked up in July, and they announced a 5 cent/lb polyethylene price increase in North America, signaling improving demand and pricing power. — If the increase sticks, it could lift margins across the North American polyethylene industry, benefiting other integrated producers like LyondellBasell and Westlake.

"Just the last few days, we've really seen an increase in our order loading. And so when we saw those market dynamics changing, you know, we announced our five cents per pound in North America."

LYB WATCH WLK WATCH

HIGH

08:00
Apr 23 ◎

DOW FY2026 Q1 Watch

Dow Inc. (DOW) FY2026 Q1 Earnings Call

DOW LYB WLK ▾

Jim Fitterling

Management's forward guidance for Q2 revenue of ~$12bn and EBITDA of $2bn represents a sharp sequential improvement, driven by sustained supply disruptions from the Middle East conflict, pricing power across all segments, and self-help cost savings. The tone is confident and bullish, with explicit upside potential to the guide.

"The positive momentum from announced pricing actions across every business and every region is taking hold and building."

DOW WATCH

Karen S. Carter

Approximately 20% of global oil capacity and half of global ethylene/polyethylene supply is offline or constrained due to the Middle East conflict, creating a supply shock three times the scale of Winter Storm Uri. — This disruption is forcing price increases far beyond typical cycles and will likely lead to accelerated capacity rationalization and project delays, benefiting North American producers with cost-advantaged feedstock.

"Roughly 20% of global oil capacity is currently offline and approximately half of global ethylene and polyethylene supply is either offline, constrained, or directly impacted."

LYB WATCH WLK WATCH

HIGH

08:00
Jan 29 ◎

DOW FY2025 Q4 Watch

Dow Inc. (DOW) FY2025 Q4 Earnings Call

DOW MQG ▾

Jim Fitterling

Management's tone is cautiously optimistic about self-help actions and cost savings, but acknowledges persistent macro challenges; the EBITDA guidance for Q1 2026 is roughly flat sequentially, indicating no material inflection yet.

"2026 will be about execution, discipline, and accelerating the work we've already begun."

DOW WATCH

Jeff Tate

Dow closed a large infrastructure partnership with Macquarie, providing cash proceeds and financial flexibility; no further business trajectory for Macquarie was signaled.

"we received approximately $3 billion in total cash proceeds for our strategic partnership with Macquarie for the sale of a 49% equity stake and select U.S. Gulf Coast infrastructure assets."

MQG WATCH

HIGH

08:00
Oct 23 ◎

DOW FY2025 Q3 Watch

Dow Inc. (DOW) FY2025 Q3 Earnings Call

DOW MQG ▾

Jeff Tate

Dow guides Q4 EBITDA down sequentially due to seasonal headwinds, higher feedstock costs, and a polyethylene unit fire, indicating a cautious near-term outlook.

"we anticipate our fourth quarter EBITDA to be approximately $725 million."

DOW WATCH

Karen S. Carter

Macquarie bought a 49% equity stake in select Dow infrastructure assets, providing Dow with cash and extending its capital flexibility.

"We closed the second and final phase of our strategic infrastructure asset partnership in the U.S. Gulf Coast, delivering $3 billion in total proceeds for Dow this year."

MQG WATCH

HIGH

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