Dow Lowers 3Q Earnings Estimate
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MIDLAND, Mich. (AP) _ Dow Chemical Co. lowered its third-quarter earnings expectations on Friday, saying demand for its products was not as strong as anticipated.
The company _ one of the world’s leading producers of plastics and the nation’s second largest chemical company behind DuPont _ had previously announced expected earnings of 25 cents to 35 cents a share for the July-September period.
Analysts surveyed by Thomson Financial/First Call expected earnings of 25 cents a share.
But the company said in light of weak overall economic conditions, it likely wouldn’t see increased demand in September as expected.
Dow’s second-quarter earnings totaled $558 million, or 31 cents per share.
Dow will report its third quarter earnings results on October 25.