Dow Inc. - DOW STOCK NEWS

Dow (NYSE: DOW) reported its Q2 2024 results with operating earnings per share of $0.68, down from $0.75 in the year-ago period but up from $0.56 in Q1 2024. Net sales were $10.9 billion, down 4% year-over-year but up 1% sequentially. The company saw volume increases of 1% both year-over-year and sequentially, with gains in most regions. Operating EBIT was $819 million, down $66 million year-over-year but up $145 million sequentially. Dow returned $691 million to shareholders through dividends and share repurchases. The company noted slower-than-expected global macroeconomic recovery but remains focused on working capital, cost reduction, and matching operating rates to current demand.

A lawsuit filed in Kanawha County, West Virginia, alleges that Dow Chemical (NYSE: DOW), its Union Carbide subsidiary, Bayer Crop Science LP, and other companies caused Charleston resident Cathy Darlene Flint to contract multiple myeloma after prolonged exposure to ethylene oxide (EtO). The lawsuit, led by environmental attorney Stuart Calwell, claims that EtO, a known carcinogen, is found in high concentrations in the area due to the defendants' negligence in producing, storing, and using the chemical.

The suit also targets healthcare facilities for allegedly releasing EtO during medical equipment sterilization without proper pollution controls. The EPA identifies the area around Flint's home as being in the 95th to 100th percentile of Air Toxics Cancer Risks. The case seeks damages for health impacts and aims to achieve justice for other affected residents.

Dow (NYSE:DOW) has launched NORDEL™ REN EPDM, a bio-based version of its EPDM rubber material used in automotive, infrastructure, and consumer applications. This new product aims to support industries in lowering their Scope 3 emissions and achieving sustainability goals. Key features include:

- Made from bio residues from other industries, avoiding competition with food resources
- Produced through an ISCC PLUS certified mass balance system
- Offers identical performance to virgin material without requalification
- Part of Dow's commitment to deliver 3 million metric tons of circular and renewable solutions by 2030

The production process uses 24% less energy and has a 39% lower carbon footprint compared to conventional methods, as validated by a third-party life cycle analysis.

Dow (NYSE:DOW) and Fiori Group have signed a memorandum of understanding (MoU) to develop sustainable solutions for circularity in the mobility market. The partnership aims to create a new ecosystem for recycling end-of-life (EOL) vehicle parts and materials. Key aspects of the collaboration include:

1. Analyzing the dismantling process and its impact on EOL waste fraction quality.
2. Creating a new ecosystem business model under a 'test and learn' practice.
3. Leveraging Fiori Group's expertise in recycling and Dow's MobilityScience™ capabilities.
4. Focusing on Dow's Renuva™ portfolio of recycled materials for the automotive industry.

This partnership aligns with both companies' commitment to fostering a circular economy for polymers, plastics, and polyurethanes in the automotive sector.

Dow (NYSE:DOW) has announced an agreement to acquire Circulus, a leading plastic waste recycler, to advance its 2030 Transform the Waste goal. The acquisition includes two facilities in Oklahoma and Alabama, with a total capacity of 50,000 metric tons per year of post-consumer resin (PCR). The transaction is expected to close in Q3 2024, subject to regulatory approval.

This strategic move will combine Dow's materials science technology with Circulus' film recycling expertise, enabling Dow to directly produce more high-performing circular products for applications such as packaging, industrial, consumer, and transportation markets. The acquisition supports Dow's commitment to transform 3 million metric tons of plastic waste and alternative feedstocks into circular and renewable solutions annually by 2030.

Dow and Teach For All have expanded their collaboration to enhance STEM education in underserved areas globally. The program will be implemented in Argentina, Japan, Nigeria, Spain, and for the first time in the US. Dow's investment aims to recruit, train, and place STEM teachers, impacting over 10,000 students and showing up to a 30% improvement in student performance since 2022. This collaboration seeks to ensure equitable access to STEM education and support educator professional development.

In 2023, Dow emphasized sustainability and innovation, implementing strategies to reduce greenhouse gas emissions and promote circular economy initiatives.

Key milestones included the approval of the Fort Saskatchewan Path2Zero project and partnerships to advance renewable energy and recycling technologies. Dow aims to reduce Scope 1 and 2 GHG emissions by 15% by 2030 while increasing annual earnings by $3 billion.

Other notable achievements include strategic collaborations for bio-based ethylene production, significant progress in inclusion, diversity, and equity (ID&E), and enhanced governance and transparency measures.

Overall, Dow is committed to long-term value creation for shareholders and stakeholders by building a sustainable, inclusive, and innovative future.

Four Dow (NYSE:DOW) leaders have been recognized on INvolve's 2024 Empower Role Model Lists for their efforts in promoting diversity and inclusion in the workplace. The honorees include Mauro Gregorio, Karen S. Carter, Amit Shah, and Shruti Bahadur. These individuals were selected for their leadership roles in breaking down barriers for people of color.

Mauro Gregorio, the outgoing president of Performance Materials & Coatings, and Karen S. Carter, president of Packaging & Specialty Plastics, were named to the Empower Executives Role Model List. Amit Shah and Shruti Bahadur were named to the Empower Future Leaders Role Model List. This recognition highlights their commitment to fostering an inclusive environment at Dow. Alveda J. Williams, Dow's chief inclusion officer, praised their contributions to creating a more equitable workplace.

INvolve's Empower Role Model Lists celebrate leaders who are driving inclusion and representation within global businesses. Dow's recognition follows previous acknowledgments on the INvolve Heroes Women Role Model Lists, the inaugural Enable Role Model List, and the Outstanding LGBTQ+ Role Model Lists.

On June 20, 2024, Dow announced a unique initiative blending art and science at its innovation center in Spring House, Pennsylvania. The facility, known for its extensive research on waterborne coatings, has expanded its role to become an educational platform in partnership with the Winterthur Museum and the University of Delaware's Art Conservation program (WUDPAC). This collaboration provides first-year WUDPAC graduate students with hands-on exposure to paint composition, aging mechanisms, and performance testing. The initiative underscores the importance of understanding material properties in art conservation and celebrates the 70th anniversary of the paint series 54K. The event marks a significant intersection between technical volunteerism and community engagement, highlighting Dow's commitment to advancing both scientific and artistic fields.