From Investing.com:

Dow Chemical forecasts flat sales for the current quarter after a 10.4% drop in the fourth quarter due to weak demand. The company struggled to offload inventory in 2023, with softness in industrial and durable goods demand expected to continue into 2024. However, destocking is coming to an end and the company expects early positive signals in construction, automotive, and consumer electronics.

Despite lower net sales, Dow beat market expectations for fourth-quarter profit and sales, with shares rising 2.1%. The company reported an adjusted profit of 43 cents per share, beating analysts’ estimates of 40 cents. Packaging and Specialty chemicals, the company’s biggest segment, reported a 7% drop in net sales due to lower polyethylene prices globally. Dow expects polyethylene prices to remain flat in the current quarter.



Read more: Dow forecasts muted demand after fourth-quarter sales drop By Reuters