The Dow Chemical Company (DOW) reported on Thursday before the bell its fourth quarter earnings, which resulted in a big loss due to charges. The adjusted net income was up versus the prior year, but missed the Wall Street view.
The Midland, Michigan-based company posted a big fourth quarter loss of $716 million, or 61 cents per share, versus a loss of $20 million, or 2 cents per share, in the same period a year earlier.
Dow posted this loss because of items such as restructuring costs and goodwill impairment charges.
Excluding these certain items, adjusted net income rose to $389 million, or 33 cents per share, from $289 million, or 25 cents per share, earned the year earlier. The quarterly EPS missed the Wall Street estimate, according to Thomson Reuters, as analysts were expecting 34 cents per share.
Fourth quarter sales were down -1% to $13.92 billion from $14.1 billion in the same period a year ago. Analysts were expecting revenues of $13.70 billion.
Dow Chemical shares were down $1.27, or -3.67%, during pre-market trading on Thursday. The stock is up +3.44% over the past year.
The Bottom Line
Shares of Dow Chemical (DOW) have a dividend yield of 3.70% based on last night’s closing price of $34.61.
The Dow Chemical Company (DOW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here