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Dow Agro sales surge to record in second quarter

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Dow AgroSciences posted record second quarter sales of $1.7 billion, up 12 percent from a year ago, the company announced Thursday morning.

Sales were helped by a 2-percent increase in prices and the introduction of new products in North America, Latin America and the Asia Pacific region.

Earnings before interest, taxes, depreciation and amortization totaled $307 million, up 7 percent over the same quarter a year ago.

Dow AgroSciences enjoyed growth in both its major product segments. Crop-protection products saw 8-percent higher sales compared with the first quarter last year, and sales of the company’s array of seeds, seed traits and oils grew 30 percent.

Dow AgroSciences, which is headquartered in Indianapolis, is a subsidiary of Michigan-based Dow Chemical Co., the world’s largest chemical company.

Dow Chemical's second quarter profit fell 34 percent as weaker demand led to lower prices. For the quarter ended June 30, Dow Chemical's earnings fell to $649 million, or 55 cents per share, compared with $982 million, or 84 cents per share, a year ago.

Revenue dropped 10 percent, to $14.5 billion.
 

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