This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Dow Reports Fourth Quarter And Full-Year Results

Stocks in this article: DOW

Equity earnings for the segment were $33 million, which compares with $32 million in the year-ago period. EBITDA for the segment was $803 million, or $829 million excluding certain items. This compares with EBITDA of $667 million in the same period last year.

Feedstocks and Energy

Sales in Feedstocks and Energy were $2.6 billion, down 9 percent versus the same period last year. In Hydrocarbons, sales declined as a result of lower sales of olefins due to lighter feedslates, as well as the expiration of contract sales related to the divestiture of Dow’s Polypropylene business. The Chlor-Alkali / Chlor-Vinyl business benefited from higher caustic soda prices due largely to stable demand and tight supply conditions in North America and Europe. These prices were more than offset by lower year-over-year vinyl chloride monomer sales, as a result of lower volumes, driven by asset shutdowns in 2011. Sales declined in Ethylene Oxide / Ethylene Glycol compared with the year-ago period. These declines were due in part to lower available volume stemming from planned maintenance activities.

Equity earnings were $152 million, up from $115 million in the same quarter last year. EBITDA for the segment was $186 million, or $193 million on an adjusted basis. This is up from $175 million in the same quarter last year.

Review of Results for 2012

Sales were $56.8 billion, down 5 percent, or 3 percent on an adjusted basis, with currency representing nearly two-thirds of the decline. Sales decreased in most operating segments and in all geographic areas. This was led by Western Europe, which was down 4 percent.

On a reported basis, volume decreased 2 percent in 2012. Adjusted volume increased 1 percent, as Asia Pacific and EMEA reported volume growth during the year (up 3 percent and 1 percent respectively). Volume in North America remained flat year over year, while Latin America reported a volume decline of 1 percent.

7 of 11

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs