Dow Chemical loses $486 million; YoY Rev Falls From 16 billion to 11 billion

Discussion in 'Stocks' started by ByLoSellHi, Jul 30, 2009.

  1. Thursday, July 30, 2009

    Dow Chemical loses $486 million
    Associated Press

    Midland --
    Dow Chemical says it lost $486 million in the second quarter because of charges related to the buyout of rival Rohm & Haas and dismal sales for chemicals used in everything from plastic bags to cars.

    The 47-cent per share loss compares with earnings of $762 million, or 81 cents per share during the same period last year. Excluding special items and discontinued operations, Dow on Thursday reported adjusted earnings of 5 cents per share.

    Revenue slid 31 percent to $11.32 billion, down from $16.35 billion in the prior-year period.

    Analysts polled by Thomson Reuters forecast, on average, a net loss of 8 cents per share on revenue of $13 billion. Analysts typically exclude one-time items.