This Day On The Street
Continue to site
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

Dow Reports Fourth Quarter And Full-Year Results

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 -0.02%
FB $99.54 -0.21%
GOOG $678.11 -0.68%
TSLA $148.25 0.18%
YHOO $26.82 -0.85%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs