On Wednesday, Shares of Dow Chemical Co (NYSE:DOW), gain 1.22% to $51.31.
Dow Chemical Co (DOW), latest closing price of $51.30 is at a premium to its 200-day moving average price of $48.31. Its 52-week range has been $ 35.11 $53.80; it is trading at discount versus its 52-week high of $53.80 achieved on Nov 21, 2014 and a premium to its 52-week low of $35.11 faced on Aug 24, 2015. The stock, as of recent close, has shown weekly upbeat performance of 6.29% which was maintained at 13.03% in this year.
Dow Chemical Co (DOW), declared third quarter sales of $1.39 billion and net income of $72 million. Adjusted net income in the third quarter reduced 1 percent to $108 million. Through the three quarters, Dow Corning’s adjusted net income, which excludes unusual items, has raised 6 percent despite reduced sales influenced largely by the strong United States dollar.
Adjusted net income for 2015 and 2014 excluded the impact of a derivative contract and gains on long term sales agreements. Additional information about Dow Corning’s financial results:
Third Quarter Results
- Sales were $1.39 billion, 9 percent lower than last year’s third quarter.
- Despite the headwinds caused by the strengthening U.S. dollar, Dow Corning continues to grow its most profitable Silicones segment product lines.
- Dow Corning continued to grow particularly in North America, Europe, the Middle East and India.
- Sales were $4.18 billion, 8 percent lower than the same time period last year; the decrease is largely driven by the strong U.S. dollar.
- Adjusted net income has raised 6 percent to $336 million.
- Sales from Dow Corning’s Polysilicon segment continued to decrease as the timing of customers taking product under long-term contracts resulted in fewer shipments.
The Dow Chemical Company manufactures and supplies products that are used primarily as raw materials in the manufacture of customer products and services worldwide. It operates through Agricultural Sciences, Consumer Solutions, Infrastructure Solutions, Performance Materials & Chemicals, and Performance Plastics segments.
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