Dow Chemical Sees Positive Q2; Sales Up 18%

Dow reported that its second-quarter net income available to the common shareholders rose to $982 million or $0.84 per share, from $566 million or $0.50 per share in the same quarter last year.

Excluding certain item, net income increased to $989 million or $0.85 per share, from $614 million or $0.54 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter rose to $16.05 billion from $13.62 billion in the prior year quarter.

Ten analysts had consensus revenue estimate of $14.74 billion for the quarter. Sales increased 18%, driven by price gains of 17% compared with the same period last year.