NEW YORK (TheStreet) -- Dow Chemical (DOW) - Get Report  shares are up by 3.12% to $47.33 Thursday afternoon as the company reported higher than expected second quarter earnings.

The company reported earnings of 95 cents per share, ahead of estimates by 10 cents However, revenue decline by 7% year over year to $12 billion, missing analyst expectations of $13 billion, CNBC's David Faber said on "Squawk on the Street."

The company's strong performance in plastics from food packaging is driven by consumer demand along with construction, infrastructure, and automotive, Dow's CEO Andrew Leveris told CNBC.

Dow has had 11 consecutive quarters of volume growth, which shows strong consumer economy, Leveris noted.

This is a record quarter for Dow in profit and in production. The company has a run rate of double digit EBITDA of $10 billion for the first time in company history, he said.

"We're making the products that people want and consumers are spending despite an uneven global economy," Leveris said.

The company reported consecutive 15 quarters of EPS growth year on year due to secular positive growth trends, he explained.

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Dow is still on track to merge with Dupont (DD), the deal was announced late last year, Leveris added.

Both companies are working together to add detail and granularity in synergy numbers to bring them up, he said.

"So you got pre-merger synergies, during merger synergies. Put those two sets of numbers together there's a lot of costs out that will come from creating these three incredible market leading companies that this merger speaks to," Leveris said.

(Dow Chemical is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trial here.)

Separately, TheStreet Ratings team sets this stock as a "buy" with a ratings score of B+. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, notable return on equity and solid stock price performance. TheStreet Ratings team feels its strengths outweigh the fact that the company has had sub par growth in net income.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

You can view the full analysis from the report here: DOW

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