Dow Chemical Q2 Earnings Surge On One-time Gain

(RTTNews) - The Dow Chemical Company (DOW) posted a surge in its second-quarter profit, boosted by one-time gain, with nearly flat sales.

The company reported net income available for common stockholders of $2.34 billion or $1.87 per share, including a gain of nearly $2.2 billion from the final resolution of the K-Dow arbitration. This compares with $649 million or $0.55 per share reported in the year-ago quarter.

Adjusted for certain items in the quarter, the company reported earnings per share of $0.64. On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.

The company's net sales for the quarter stood at $14.57 billion, almost flat with last year. Analysts expected revenues of $14.48 billion for the quarter.

Agricultural Sciences reported a 10 percent increase in sales, and sales from Performance Materials rose 1 percent, offsetting 4 percent decline in Feedstocks and 1 percent decline in Energy and Performance Plastics.