Dow Inc.: Beat — EPS $0.71, Revenue $11.27B
Earnings BeatQ3 2026 · Pre-market
Did Dow Inc. (DOW) beat earnings today?
Yes, Dow Inc. (DOW) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+10.94% surprise
$0.71Actual
Expected: $0.64
vs. year ago +473.7%
Total Revenue+0.45% surprise
$11.27BActual
Expected: $11.22B
vs. year ago +13.0%
Released Oct 22 · 6:00 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Net Sales | $11.27B | $9.97B | +13.0% |
| Revenue detail — reported lines | |||
| └─Packaging & Specialty Plastics | $5.78B | $4.89B | +18.0% |
| └─Industrial Intermediates & Infrastructure | $3.06B | $2.83B | +8.0% |
| └─Performance Materials & Coatings | $2.25B | $2.08B | +8.0% |
| └─Corporate | $181.00M | $166.00M | +9.0% |
| Net Income | $525.00M | $124.00M | +323.4% |
| GAAP Basic EPS | $0.63 | $0.08 | +687.5% |
| GAAP Diluted EPS | $0.62 | $0.08 | +675.0% |
| Op. EPS | $0.71 | -$0.19 | - |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY26 Outlook |
|---|---|---|
| EBITDA uplift | — | >$1B |
Business Highlights
- ➤Delivered targeted downstream growth through Packaging & Specialty Plastics.
- ➤Restarted a previously idled EMEAI cracker.
- ➤Advanced three European asset shutdowns; benefits are expected to build through 2027.
- ➤Progressed Transform to Outperform actions across the portfolio.
- ➤Demand increased for AI infrastructure and energy applications in Industrial Solutions.
- ➤Achieved downstream silicones volume gains across all regions.
- ➤Closed the Barry, U.K. siloxanes plant as part of self-help actions.
- ➤Returned $253M to shareholders through quarterly dividends.
- ➤Reduced debt by approximately $600M year-to-date.
Management Commentary
Karen S. Carter, Dow chief executive officer
“Dow delivered a solid third quarter, driven by targeted downstream growth and disciplined execution against an evolving macro backdrop,”
Karen S. Carter, Dow chief executive officer
“Our teams are delivering on our unique-to-Dow self-help commitments – including our 2025 $1 billion cost program, our European asset actions, and Transform to Outperform. Specific to the transformation, we are on track to achieve the upsized $700 million in growth and productivity benefits in 2026, as well as the approximately $2 billion in total uplift by the end of next year. In addition, we captured sequential gains from the first of our three European asset shutdowns, where the total benefits are expected to build through 2027. We also remain focused on cash, including releasing more than $400 million of working capital during the quarter and reducing debt by approximately $600 million year-to-date. Our near-term actions are building a Dow that delivers stronger, more consistent results and long-term value for our shareholders.”
Karen S. Carter
“We are building a more resilient and competitive Dow that is positioned to create long-term value through our continued focus on three priorities,”
Karen S. Carter
“First, driving growth and innovation in higher-value areas of our businesses where demand is growing well above GDP – including applications for AI infrastructure, home and personal care, electronics, flexible packaging and mobility. Second, we are taking action to strengthen the competitiveness of Dow's portfolio by investing in differentiated low-cost positions while shutting down higher-cost upstream capacity. And third, we're maintaining a disciplined and balanced approach to capital allocation that supports long-term shareholder value creation. These priorities are underpinned by our self-help actions, which are on track to deliver more than $1 billion of EBITDA uplift in both 2026 and 2027.”