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Dow AgroSciences reports record quarterly results

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Dow AgroSciences LLC reported record sales of $2.1 billion in the first quarter, an increase of 1 percent over last year's first period, the Indianapolis-based company reported Wednesday morning.

The subsidiary of Midland, Mich.-based Dow Chemical Co. also reported record earnings before interest, taxes, depreciation and amortization, or EBITDA, of $529 million, up 9 percent from a year ago. Dow Agro said higher sales and lower expenses boosted profit.

Sales of crop-protection products grew 4 percent overall in the quarter, mainly due to gains in foreign markets. Sales of new crop-protection products rose 28 percent.

Sales of seeds and seed traits fell 7 percent in the quarter, partly due to the late planting season in the United States.

Meanwhile, Dow Chemical, the largest U.S. chemical maker, posted first-quarter earnings that exceeded analyst estimates as plastics margins widened on higher prices and coatings volumes improved.

Profit rose to $964 million, or 79 cents a share, from $550 million, or 46 cents, a year earlier. That topped the 71-cent average of 17 estimates compiled by Bloomberg. Sales climbed to $14.5 billion, from $14.4 billion a year ago, missing the $14.7 billion average of 13 estimates.

CEO Andrew Liveris earlier this year expanded plans to divest underperforming units amid calls from hedge fund Third Point LLC to split off its commodity-chemical operations.

Profit from plastics, Dow’s largest business, climbed 5 percent as price increases for polyethylene stayed ahead of rising costs for resin ingredients such as propane and ethane. Earnings from coatings were up 20 percent.

Dow shares rose more than 2 percent Wednesday morning, to $49.97 each.
 

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  1. Socialized medicine works great for white people in Scandanavia. It works well in Costa Rica for a population that is partly white and partly mestizo. I don't really see Obamacare as something aimed against whites. I think that is a Republican canard designed to elicit support from white people for republican candidates who don't care about them any more than democrats care about the non-whites they pander to with their phony maneuvers. But what is different between Costa Rica nd the Scandanavian nations on one hand and the US on the other? SIZE. Maybe the US is just too damn big. Maybe it just needs to be divided into smaller self governing pieces like when the old Holy Roman Empire was dismantled. Maybe we are always trying the same set of solutions for different kinds of people as if we were all the same. Oh-- I know-- that is liberal dogma, that we are all the same. Which is the most idiotic American notion going right back to the propaganda of 1776. All men are different and their differences are myriad and that which is different is not equal. The state which pretends men are all the same is going to force men to be the same. That is what America does here, that is what we do in our stupid overseas wars, that is how we destroy true diversity and true difference, and we are all as different groups of folks, feeling the pains of how capitalism is grinding us down into equally insignificant proletarian microconsumers with no other identity whether we like it or not. And the Marxists had this much right about the War of Independence: it was fundamentally a war of capitalist against feudal systems. America has been about big money since day one and whatever gets in the way is crushed. Health care is just another market and Obamacare, to the extent that it Rationalizes and makes more uniform a market which should actually be really different in nature and delivery from place to place-- well that will serve the interests of the biggest capitalist stakeholders in health care which is not Walmart for Gosh Sakes it is the INSURANCE INDUSTRY. CUI BONO Obamacare? The insurance industry. So republicans drop the delusion pro capitalist scales from your eyes this has almost nothing to do with race or "socialism" it has to do mostly with what the INSURANCE INDUSTRY wants to have happen in order to make their lives and profits easier.

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  4. JK - I meant that the results don't ring true. I also questioned the 10-year-old study because so much in the "health care system" has changed since the study was made. Moreover, it was hard to get to any overall conclusion or observation with the article. But....don't be defensive given my comments; I still think you do the best job of any journalist in the area shedding light and insight on important health care issues.

  5. Probably a good idea he doesn't run. I for one do not want someone who lives in VIRGINIA to be the governor. He gave it some thought, but he likes Virginia too much. What a name I cannot say on this site! The way these people think and operate amuses me.

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