Dow Inc - DOW STOCK NEWS

Dow Inc. (NYSE: DOW) has announced a comprehensive cost-saving plan aimed at achieving $1 billion in savings in 2023. This initiative responds to current macroeconomic uncertainties while emphasizing long-term value creation. Key strategies include $500 million in structural improvements through workforce reductions and asset optimization, along with $500 million in operational expense reductions. The company will incur a charge of $550 million to $725 million in Q1 2023 related to these actions. Dow remains committed to growth, targeting an increase in underlying EBITDA exceeding $3 billion by 2030, alongside a 30% reduction in carbon emissions by 2030 relative to 2005 levels.

Dow (NYSE: DOW) reported its fourth quarter 2022 results, showing significant declines in both revenue and earnings. GAAP EPS was $0.85, down from $2.32 year-over-year, while operating EPS fell to $0.46 from $2.15. Net sales totaled $11.9 billion, a 17% decrease from the previous year. The company faced volume declines of 8%, particularly in Europe and North America, due to slower economic growth and customer destocking. Despite challenges, Dow generated $2.1 billion in cash flow from operations and returned $620 million to shareholders. For 2022, Dow's net sales rose to $56.9 billion, but net income dropped to $4.6 billion, down from $6.4 billion the prior year.

Dow, W&H, and B&B unveiled a new recyclable wide-format MDO-PE pouch at the K 2022 fair in Düsseldorf, optimizing pet food packaging. The pouch, made primarily of polyethylene and a minimal layer of EVOH, is designed to enhance recyclability while maintaining performance. It can print at 400 meters per minute and produce 80 bags per minute on the commercial packaging line. By leveraging Dow's advanced resins and W&H's cutting-edge machinery, this innovation aims to improve recycling rates and support the circular economy of plastics. The collaboration underscores the importance of combined expertise in achieving sustainable packaging solutions.

Univar Solutions, a leading global distributor of specialty ingredients and chemicals, has been named the distributor for Dow's acrylic emulsion polymer products in the UK and Ireland, specifically from the PRIMAL™ and UCAR™ LATEX portfolios. This partnership aims to enhance the company's distribution capabilities in construction applications, such as cementitious products and architectural coatings. Both companies emphasize their commitment to delivering technical success and a robust product portfolio to meet regional customer demands. The collaboration is expected to strengthen Univar Solutions' market position in the construction industry.

Jim Fitterling, chairman and CEO of Dow, has been recognized as the #1 on the 2023 ICIS Top 40 Power Players ranking. This accolade highlights his visionary leadership in driving industry growth through decarbonization and innovation in transforming plastic waste. Dow continues to emphasize its commitment to sustainability and materials science, aiming to deliver a sustainable future through collaboration and innovation. The company operates 106 manufacturing sites across 31 countries, employing around 35,700 people and generating approximately $39 billion in sales in 2020, positioning itself as a leader in high-growth market segments.

DOW has partnered with Bridgestone to launch the world's first silicone-based self-sealing tire material, named B-SEAL[S]. This innovative technology promises sustainability while enhancing tire performance, particularly for electric vehicles and SUVs. Unlike traditional run-flat tires, the self-sealing solution allows for easy recycling, and the silicone material is lightweight and durable. This product supports both companies' sustainability goals, contributing to a circular economy and reducing waste by eliminating the need for spare tires. The collaboration emphasizes building a sustainable future in mobility.