Dow Q2 2026: sales up 20% to $12.09B, operating EPS $1.44
Dow swung from a $1.18 per-share loss a year ago to $0.99 of GAAP earnings and $1.44 of operating EPS this quarter, beating the $1.2907 consensus by $0.15. Almost all of the improvement came from price, not volume: sales rose 20% while volume slipped 1%. Read the print as a real earnings recovery that still depends on polyethylene prices holding and on restructuring savings landing as promised.
1 · Expected vs. Actual
Free preview belowGAAP EPS was $0.99 and operating EPS was $1.44, against a $0.42 loss per share a year ago and the $1.2907 consensus — a beat of 11.6%. GAAP profit was trimmed by $0.45 per share of significant items, mostly $445 million of severance tied to Transform to Outperform. Operating EBIT of $1.65 billion versus a $21 million loss a year ago shows the size of the operating swing underneath the per-share numbers.
Revenue of $12.09 billion was up 20.0% from $10.10 billion a year ago, with increases in all three segments and in every region. The catch is where it came from: local price contributed 20.0% and currency 1.0%, while volume fell 1.0%. Higher polyethylene prices, not more product shipped, did the heavy lifting.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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