Dow reports Q3 2016 as 16th quarter of year-on-year growth

Midland, Michigan — Dow Chemical’s sales were $12.5bn in Q3 2016, up 4% on Q3 2015, according its latest financial report.

The report said there were gains in all segments except Performance Materials & Chemicals, which declined primarily as a result of the Dow Chlorine Products divestiture.

Volumes were up 6% excluding the impact of divestitures and acquisitions, reflecting broad-based, consumer-driven demand with gains in all geographic areas, the report added.

Volume in the EMEAI region (Europe, Middle East, Africa and India) rose 9%; North American volumes rose 6%; Asia Pacific rose 4% and Latin America was up 1% in volume terms, the report said. Greater China’s volume growth was reported as 6% higher than the prior year period.

Operating EBITDA rose 5% versus the year-ago period to $2.5bn, according to Dow.

Dow’s chairman and ceo Andrew Liveris said the firm had seen “16 consecutive quarters of year-over-year operating earnings growth and margin expansion in the face of persistently slow-growth global economic environment.”

“We see steady growth in North America and Europe continuing,” he said adding that “the strength of the consumer and emphasis on growth in Southeast Asia and second-tier cities in China continue to drive Dow results in Asia Pacific.

“Latin America is showing strength in the Andean economies and Mexico, and Brazil is beginning to recover from a low base.”