Dow Expects to Miss Earnings Estimate
Dow Chemical Co. said it will not meet its fourth-quarter earnings estimate of 10 cents to 20 cents a share as a slowing economy pinched sales and cut margins.
The nation’s largest chemical maker didn’t provide other details. The company reports full results on Jan. 31.
Dow rivals also are seeing profits dwindle as slowing economic growth weighs on demand for plastics used in cars and coloring for paint. Chemical makers have been hurt by a slow economy, and one analyst said Dow’s announcement indicates a recovery isn’t imminent.
Shares of Dow rose $1.25 to close at $35.54 on the NYSE.
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