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· GAAP EPS from continuing operations was $1 and non-GAAP EPS from continuing operations was $8
· GAAP net income was $90 million and EBIT1 was $1 billi.
· Net sales of $10 billion were in line with company expectations and were down 14% from the year-ago quart.
· Volume was down 3% from the same period last year due to increased ethylene integration following the start of new downstream businesses, higher ethane feedstock usage and lower sales of hydrocarbon by-produc.
· Local prices fell 9% compared to the previous year's forecast, with all sectors falli.
· Equity loss of $15 million compared to a forecast equity gain of $193 million in the year-ago quart.
· Operating EBIT was $1 billion, down 35% from the prior-year estima.
Generated more than $130 million in cost synergies and shifted $45 million in detention cos.
· Cash from continuing operations amounted to $960 million, an increase of 26% over the same period last ye.
Returned $800 million to shareholders during the quarter, including $500 million in dividends and $300 million in share repurchases
Financial Data Summary
Financial Data SummaryCEO says
CEO saysCEO Jim Fitterling commented on the quarter's performance: "Despite a challenging market environment, our results reflect the benefits of Dow's leaner and more focused product portfolio, namely continued cost synergies and the elimination of stranded cos.
Industrial Intermediates and Facilities
Industrial Intermediates and FacilitiesNet sales of industrial intermediates and facilities were $3 billion, down 16% from the prior-year estima.
Polyurethanes and Construction Chemicals reported lower net sales, driven by lower isocyanate prices and EMEAI currency headwin.
Outlook
OutlookFitterling said: “Looking ahead, we still see global economic growth, but buying patterns remain cautious due to ongoing trade and geopolitical uncertainty, and the pace of this expansion has slowed becau.
"Over the long term, our purpose-built portfolio and leading businesses, coupled with a leaner cost structure and a series of incremental high-return growth investments, will continue to differentiate Dow and push to continue driving our grow.
