May 2, 2019 / 10:06 AM / 18 days ago

Dow posts 24 pct fall in first-quarter core earnings

May 2 (Reuters) - Dow Inc, the commodity chemicals division spun off from DowDuPont Inc, reported a 24 percent fall in core earnings from operations on Thursday, in line with its prediction, hurt primarily by lower prices.

The company said operating earnings before interest, taxes, depreciation and amortization (EBITDA) fell to $1.92 billion in the first quarter ended Mar. 31 from $2.54 billion a year earlier.

Net sales fell 10 percent to $10.77 billion, also in line with the company’s prior guidance.

Dow said it expects to take a hit in the second quarter, mainly from seasonal planned turnaround and maintenance activity. However, it anticipates pricing to start rising sequentially. (Reporting by Debroop Roy in Bengaluru Editing by Saumyadeb Chakrabarty)

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