Shares of Dow Inc.  (DOW) - Get Report rose Thursday after the chemical giant beat analysts' earnings estimates for the third quarter amid slowing global demand and falling energy prices.

Dow's stock price jumped 3.38% to $48.80 in premarket trading after the one of the world's largest chemical makers reported adjusted earnings of 91 cents a share.

While that represents a sharp decline from $1.34 a share the company reported in the third quarter of 2018, it rang in well above the 72 cents a share estimate of analysts.

Dow reported a 15% drop in net sales amid declining global energy prices. While the company saw increased demand in "packaging, polyurethanes and silicones applications," Dow noted the gains were "more than offset by lower hydrocarbon co-product sales."

Still, Dow was able to counter falling demand with significant cost savings, slashing $40 million in expenses and saving $1.365 billion in a cost synergy program involving its material science division.

"Our results this quarter demonstrated the Dow team's focus on managing operational levers in response to a difficult business environment," said Dow CEO Jim Fitterling in a press statement.

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