Dow Agro improves quarterly revenue, profit

October 27, 2011

Indianapolis-based Dow AgroSciences on Thursday reported record third-quarter sales of $1.2 billion, up 27 percent from the same period a year ago.

Earnings before interest, taxes, depreciation and amortization were $75 million in the quarter ended Sept. 30, reversing a $12 million loss through greater volume and higher prices.

The company, a unit of Midland, Mich.-based Dow Chemical Co., reported double-digit sales and volume gains in all geographic areas, led by Latin America.

Dow Chemical, meanwhile, said its quarterly profit was up 51 percent on higher sales in the agriculture and chlorine businesses.

Net income increased to $900 million, or 69 cents a share, from $597 million, or 45 cents, a year earlier. Revenue climbed 17 percent, to $15.1 billion from $12.9 billion.

CEO Andrew Liveris is expanding Dow in Saudi Arabia and on the U.S. Gulf Coast to turn oil and low-cost natural gas into chemicals used in food packaging and auto parts.



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