Dow lifts outlook after Q2 beat, raises 2026 self-help target above $1.3 billion
AI Market Summary
Dow's Q2 results beat expectations with strong EBITDA expansion and higher pricing, alongside an increased 2026 self-help target and progress toward $2B cumulative savings by 2027. Management guided Q3 EBITDA around $1B, acknowledging softer polyethylene pricing and seasonal normalization, partially offset by ongoing cost actions. The update is supportive for U.S. chemicals and materials equities given improved margins, cash generation, and balance sheet flexibility.
Impact level
● Medium
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▲ Bullish
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Dow reported 2024 second-quarter results with adjusted EPS of $1.44, topping expectations of $1.28. Revenue rose 20% year over year to $12.09 billion, while operating EBITDA climbed to $2.3 billion from $703 million a year earlier. The company raised its 2026 self-help target to more than $1.3 billion and said it has completed its $1 billion 2025 cost-savings program. For the third quarter, Dow guided to EBITDA of about $1 billion.
