Dow Chemical reported earnings below expectations in the second quarter, an interruption of production at three plants dwarfing sales jump, all industries and all regions.
Accordingly, the action has opened down 6.8%.
The measures undertaken in these three plants to increase their operational speeds began earnings per share (EPS) of 7 cents and revenue of the group of 300 million dollars (226.9 million euros).
These mills have turned into sub-system during the recession, have needed time to regain their stride, a process that takes time, "said American chemist.
Positive sign, the turnover for the advanced materials division – which took over the assets of Rohm & Haas – jumped 13.6% to $ 2.73 billion. The group's goal is to achieve a turnover of 16 billion dollars by 2015 for this division.
"Our focus is on realizing the full potential of our new portfolios and our new cost structure sanitized," says CEO Andrew Liveris in a statement."We still believe that a dynamic is forged slowly and we do not change our opinion with regard to expect a global recovery sustainable, with Asia to the engine, with a modest contribution of the U.S. economy but with Europe continues to lag behind. "
"Our outlook remains cautiously optimistic U.S. economic," he adds.
GAP CONSENSUS TO LOWER
Dow Chemical has reported net earnings of $ 566 million, or 50 cents per share, after posting a loss of $ 486 million (47 cents per share) the previous year.
Excluding items, earnings totaled 54 cents per share against 56 cents expected by analysts, according to Thomson Reuters consensus I / B / E / S.
The group's turnover rose 20.3% to 13.62 billion dollars, a slightly below expectations of analysts giving 13.69 billion dollars.
As in the first quarter, the plastics manufacturing activities show strong results, with sales up 26.2%. The production of chemicals, which manufactures chlorine, rose 25%.
Dow Chemical also said to have reduced its debt to long-term, largely related to acquisition of Rohm & Haas, 5.5%, to 18.11 billion dollars.
The benefit of joint ventures has doubled, reaching 244 million dollars.