Dow AgroSciences, the Indianapolis-based agricultural arm of Dow Chemical Co., lost $38 million in the fourth quarter due to a $77 million restructuring charge. Last year the unit earned $38 million.
Dow AgroSciences sold $864 million of chemicals and other agricultural products in the quarter, up 6 percent from a year earlier due to broad increases in volume and prices. High farm commodity prices also boosted demand for seed.
The parent company, headquartered in Midland, Mich., reported that profit in the quarter fell to $472 million from $975 million due to higher materials and energy costs.