Chemicals Company Dow's Q2 Earnings Disappoint Amid Challenging Market Conditions; Stock Slips
Chemicals Company Dow's Q2 Earnings Disappoint Amid Challenging Market Conditions; Stock Slips
Dow Inc (NYSE:DOW) shares are trading lower after the company reported second-quarter FY24 results.
道氏化學（紐交所：DOW）股票下跌，因公司公佈2024財年第二季度業績。
Sales declined 4% Y/Y to $10.9 billion, missing the consensus of $11.01 billion.
銷售額同比下降4％至109億美元，低於市場預期的110.1億美元。
Sales were up 1% sequentially, led by gains in Performance Materials & Coatings and Packaging & Specialty Plastics.
由於性能材料和塗料以及包裝和特種塑料業務的增長，銷售額環比上升1％。
Adjusted EPS was $0.68, missing the consensus of $0.72.
調整後的每股收益爲0.68美元，低於市場預期的0.72美元。
Local price fell 4% Y/Y. Sequentially, local prices rose 1% Y/Y, aided by gains in Europe, the Middle East, Africa, and India (EMEAI).
本地價格同比下降4％。環比上升1％，其中歐洲、中東、非洲和印度（EMEAI）區域業務增長助推了本地價格上漲。
Volume increased by 1% Y/Y, reflecting led by the U.S. & Canada.
成交量同比增長1％，主要得益於美國和加拿大市場。
Operating EBIT declined to $819 million from $885 million a year ago, while the margin contracted by 20 bps to 7.5% for the quarter.
本季度營業收入爲81900萬美元，比去年同期的88500萬美元下降，毛利率降低20個點子至7.5％。
Segment: Packaging & Specialty Plastics sales decreased 7% Y/Y to $5.5 billion, and the operating EBIT margin of 12.7% was down by 280 bps.
包裝和特種塑料業務銷售額同比下降7％至55億美元，毛利率爲12.7％，下降280個點子。
Industrial Intermediates & Infrastructure sales fell 7% Y/Y to $2.95 billion, and the operating EBIT margin expanded by 130 bps Y/Y to 0.2%.
工業中間體和基礎設施銷售額同比下降7％至29.5億美元，毛利率同比擴大130個點子至0.2％。
Performance Materials & Coatings sales rose 2% Y/Y to $2.24 billion, and the operating EBIT margin grew by 350 bps Y/Y to 6.5%.
性能材料和塗料業務銷售額同比增長2％至22.4億美元，毛利率同比增長350個點子至6.5％。
DOW's cash provided by operating activities from continuing operations for the quarter was $832 million, and free cash flow was $109 million.
DOW本季度持續經營活動提供的現金流爲83200萬美元，自由現金流爲10900萬美元。
DOW returned $691 million to the shareholders in the quarter, including $491 million in dividends and $200 million in share repurchases.
DOW在本季度向股東返還69100萬美元，包括49100萬美元的分紅和20000萬美元的股票回購。
Jim Fitterling, chair and chief executive officer, said, "The pace of the global macroeconomic recovery has been slower than expected. We remain focused on working capital, reducing costs, and matching our operating rates to current demand."
主席兼首席執行官Jim Fitterling表示：“全球宏觀經濟復甦的步伐比預期的慢。我們繼續專注於營運資金、降低成本以及匹配我們的產能與當前需求。”
"As we look to the second half of the year, Team Dow is focused on continuing to deliver sequential earnings improvements while navigating through the slower macro environment we remain in."
“在展望今年下半年時，道氏化學團隊專注於繼續提高收益，同時應對當前的宏觀經濟環境。”
"While near-term demand in many markets that we serve is growing, building & construction and consumer durables are unlikely to significantly change in 2024. We will continue driving higher sales through our innovation portfolio and diverse product mix."
“雖然我們服務的許多市場的近期需求正在增長，但建築和消費耐久品在2024年不太可能出現顯著變化。我們將通過創新組合和多樣化的產品組合繼續推動更高的銷售額。”
Investors can gain exposure to the stock via Invesco Dow Jones Industrial Average Dividend ETF (NYSE:DJD) and FT Vest DJIA Dogs 10 Target Income ETF (BATS:DOGG).
投資者可以通過Invesco Dow Jones工業平均分紅ETF（紐交所：DJD）和Ft Vest DJIA Dogs 10目標收入ETF（BATS: DOGG）獲得該股票的曝光。
Price Action: DOW shares are down 5.18% at $50.56 premarket at the last check Thursday.
截至週四最後一次查詢，DOW股價以50.56美元下跌5.18％。
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