Dow Coating Materials reported sales gains as a result of improving demand conditions and share gains in both Industrial and Architectural Coatings, which drove volume improvements. This offset price declines during the quarter. Lower pricing in epoxy-based products continued to hamper sales and profitability. Dow Building and Construction experienced a reduction in sales, as volumes decreased versus same quarter last year – primarily as a result of the 2012 implementation of previously announced STYROFOAM™ asset closures in Europe. Dow Water and Process Solutions reported a slight sales decline as a result of lower volumes, which were driven by the timing of large capital projects and softness in the industry.The segment reported equity losses of $46 million, or equity earnings of $35 million on an adjusted basis. This compares with $102 million in the same period last year. The decline was driven by Dow Corning, as a result of costs associated with the joint venture’s recently announced restructuring actions and ongoing polysilicon value chain weakness. EBITDA for the segment was $36 million or $129 million on an adjusted basis. This compares with EBITDA of $177 million or $237 million on an adjusted basis in the year-ago period.
Dow Reports Fourth Quarter And Full-Year Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts