| Earnings Scorecard |
| Actual | Estimated* | Year-Ago |
| $0.36 | $0.36 | $0.40
|
 |
Dow Chemical (DOW Quote - Cramer on DOW - Stock Picks) said on Thursday that it met Wall Street's earnings expectations for the fourth quarter, despite increased costs.
The chemical maker earned $243 million, or 36 cents a share, down from $267 million, or 40 cents a share, in the year-ago period. Ten analysts polled by
First Call/Thomson Financial were calling for the company to earn 36 cents in the quarter.
Sales for the quarter increased to $5.35 billion from $5.2 billion in the equivalent period last year. Dow also said a spike in North American natural gas prices drove its hydrocarbon and energy costs up by more than $500 million.
"In the first half of 2001, we expect challenging conditions to continue, including volatile oil and energy prices coupled with the slowing momentum of the U.S. economy," the company said in a statement. "However, we anticipate some recovery starting mid-year. Continued emphasis on cost controls and management of working capital will be a key point of Dow's focus as we move through the year."
Shares of Dow Chemical, which is based in Midland, Mich., gained 31 cents, or 1%, to $32.31 in recent
New York Stock Exchange trading.
Chris Frankie
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