The earnings call reflects a challenging macroeconomic environment with significant headwinds impacting sales and margins. However, Dow is taking proactive measures to navigate these challenges, including strategic cost reductions, asset sales, and maintaining operational flexibility. Key achievements include consecutive volume growth, strategic transactions, and resolving significant litigation. Despite these efforts, the overall environment remains uncertain, with delayed projects and ongoing demand challenges.

Company Guidance

During Dow's first-quarter earnings call, the company provided guidance amidst prolonged market challenges, with net sales reported at $10.4 billion, a 3% decrease from the previous year, and EBITDA at $944 million, reflecting margin compression despite volume gains. Cash flow from continuing operations was $104 million, while shareholder returns totaled $494 million in dividends. Dow announced targeted cost reductions of at least $1 billion annually by 2026, including the elimination of approximately 1,500 roles and a reduction in capital expenditures by $1 billion for 2025, aiming for an enterprise spend of around $2.5 billion. Additionally, Dow plans to idle or shut down select European assets, including an ethylene cracker and chlor-alkali and vinyl assets in Germany, to enhance cash flow and align with market realities. The company also expects $2.4 billion in proceeds from a strategic transaction with Macquarie Asset Management and over $1 billion from a legal ruling, projecting these actions to provide approximately $6 billion in near-term cash support.

Sixth Consecutive Quarter of Year-Over-Year Volume Growth

Despite volatile macroeconomic conditions, Dow delivered its sixth consecutive quarter of year-over-year volume growth.

Cost Reduction Initiatives

Dow announced at least $1 billion in annualized cost reductions by 2026, including eliminating 1,500 roles and delaying construction at the Alberta project to align with market recovery.

Strategic Infrastructure Transaction

The strategic transaction with Macquarie Asset Management for a minority stake is expected to generate $2.4 billion in initial cash proceeds, with the potential for an additional $600 million.

Regulatory Approval for Sale of Gulf Coast Assets

Dow received regulatory approval for a strategic transaction to sell a minority stake in US Gulf Coast infrastructure assets, expecting proceeds of approximately $2.4 billion.

NOVA Litigation Resolution

Dow received a final ruling on the NOVA litigation, expecting to receive more than $1 billion later this year.

Expansion of Alkoxylation Capacity

Dow's new alkoxylation expansion in Cedars, Texas, is expected to be fully operational by mid-2025, targeting key growth markets such as energy and pharmaceuticals.

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Dow (DOW) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

DOW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 24, 2025	2025 (Q2)	0.09 / -	0.68	―	―	―
Apr 24, 2025	2025 (Q1)	-0.01 / 0.02	0.56	-96.43% (-0.54)
Jan 30, 2025	2024 (Q4)	0.24 / 0.00	0.43	―
Oct 24, 2024	2024 (Q3)	0.46 / 0.47	0.48	-2.08% (-0.01)
Jul 25, 2024	2024 (Q2)	0.71 / 0.68	0.75	-9.33% (-0.07)
Apr 25, 2024	2024 (Q1)	0.45 / 0.56	0.58	-3.45% (-0.02)
Jan 25, 2024	2023 (Q4)	0.40 / 0.43	0.46	-6.52% (-0.03)
Oct 24, 2023	2023 (Q3)	0.44 / 0.48	1.11	-56.76% (-0.63)
Jul 25, 2023	2023 (Q2)	0.70 / 0.75	2.31	-67.53% (-1.56)
Apr 25, 2023	2023 (Q1)	0.36 / 0.58	2.34	-75.21% (-1.76)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DOW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 24, 2025	$29.00	$29.76	+2.62%
Jan 30, 2025	$40.30	$37.85	-6.08%
Oct 24, 2024	$49.76	$49.28	-0.96%
Jul 25, 2024	$50.86	$50.41	-0.88%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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