DOW 8-K: Dow Q1 net loss $73M; operating EPS $0.58 vs $2.34 YoY; sales down 22%

Dow Q1 net loss $73M; operating EPS $0.58 vs $2.34 YoY; sales down 22%

DOW INC.

2023-Q1 EPS reported -$0.13 revenue$11,851,000,000

GAAP loss per share $0.13; operating EPS $0.58, down from $2.34 YoY.

Net sales $11.9B, down 22% YoY; volume -11%, price -10%.

Operating EBIT $708M vs $2.419B YoY; operating EBITDA $1.356B vs $3.171B.

Equity losses $48M vs earnings $174M YoY, driven by joint venture declines.

Cash from ops $531M; returned $621M to shareholders ($496M dividends, $125M buybacks).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DOW INC. reported first quarter of 2023 results: revenue $11.9 billion, net income $73 million, EPS $0.13.

Period: first quarter of 2023
Revenue: $11.9 billion
Net income: $73 million
EPS: $0.13
Result: reported results

Exact text from the filing

April 25, 2023 Dow reports first quarter 2023 results FINANCIAL HIGHLIGHTS • GAAP loss per share was $0.13; operating earnings per share (EPS) 1 was $0.58, compared to $2.34 in the year-ago period and $0.46 in the prior quarter. Operating EPS excludes significant items in the quarter, totaling $0.71 per share, primarily due to restructuring costs and a litigation matter. • Net sales were $11.9 billion, down 22% versus the year-ago period, reflecting declines in all operating segments driven by slower global macroeconomic activity. Sales were flat sequentially, as gains in Performance Materials & Coatings and Packaging & Specialty Plastics offset declines in Industrial Intermediates & Infrastructure. • Volume decreased 11% versus the year-ago period, led by a 15% decline in Europe, the Middle East, Africa, and India (EMEAI). Sequentially, volume increased by 2%, due to gains in Performance Materials & Coatings and Packaging & Specialty Plastics. • Local price declined 10% versus the yea

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