Dow Agro boosts sales, profit in second quarter

August 3, 2010

Indianapolis-based Dow AgroSciences improved sales and profit in its second quarter thanks to higher volumes and lower costs, the company said Tuesday morning.

The unit of Dow Chemical Co. posted a profit of $196 million, up from $140 million in the same quarter last year. Second-quarter revenue increased 4 percent, to $1.3 billion.

Officials credited increased sales for the company’s herbicides, including some new products, despite weather-related delays.

Meanwhile, the Midland, Mich.-based parent company reported profit of $651 million, or 50 cents a share, compared with a net loss of $344 million, or 47 cents, ayear earlier. Profit excluding some items was 54 cents, less than the 57-cent average estimate of 11 analysts in a Bloomberg survey.

Sales rose 20 percent to $13.6 billion.

CEO Andrew Liveris, who shut plants and sold assets during the recession, is boosting output as demand recovers.


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