Dow Inc. reports news on its global materials science business, which supplies chemicals and materials for packaging, infrastructure, mobility and consumer applications. Company updates commonly focus on segment demand, local pricing, volumes, polyethylene and olefins markets, and operating conditions across Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, Performance Materials & Coatings, and related construction-chemicals businesses.
Recurring announcements also cover quarterly results, dividend declarations, annual stockholder meeting outcomes, board and executive succession, manufacturing and asset actions, and company-wide productivity or cost-structure programs. Dow news often ties these developments to its integrated asset footprint, customer applications and global supply chain conditions.
DOW has received the External Business Partner of the Year Award from Procter & Gamble, recognizing their successful collaboration in the Fabric & Home Care division. During a recent partnership, DOW rapidly developed a raw material for P&G's new hard surface cleaner, overcoming challenges in delivery within tight deadlines. The collaboration also focuses on sustainability, aiming to reduce carbon footprints and greenhouse gas emissions. Additionally, DOW supports P&G's diversity initiatives, enhancing their inclusion programs. This partnership exemplifies DOW's commitment to customer-centricity, sustainability, and innovation in challenging times.
On February 9, 2023, Dow (NYSE: DOW) announced a quarterly dividend of 70 cents per share, scheduled for payment on March 10, 2023, to shareholders of record as of February 28, 2023. This payment represents the 446th consecutive dividend since 1912. Dow, a leader in materials science, generated approximately $57 billion in sales in 2022 and operates in 31 countries with around 37,800 employees. The company's focus lies in sustainable innovation across various sectors, including packaging and infrastructure.
Dow has unveiled new sealant technology developed through its longstanding partnership with Samsung, emphasizing functional technology and innovation in mobile devices. Since their collaboration began in 2013, Dow has created waterproofing solutions for Samsung phones, resulting in the first waterproof foldable phone launched in 2021. This technology not only enhances device longevity by preventing water damage but also supports sustainability through easier recycling. Dow's dedication to continuous improvement aims to redefine smartphone design, ensuring that functionality remains at the forefront of innovation.
DOW celebrated International Volunteer Day on February 6, 2023, reflecting on its 125th anniversary and the importance of solidarity through volunteering. The company emphasizes community impact, with 52% of its 35,000 employees volunteering globally. It supports various purpose-driven initiatives, including the 125th-anniversary Serve-a-thon and STEM volunteering. Highlighting long-term community support, DOW continues to assist recovery efforts for those affected by disasters, such as Hurricane Harvey. The press release underscores the legacy of H.H. Dow and the role of volunteers in fostering positive community relations and enhancing employee experience.
Northampton, MA / ACCESSWIRE / February 2, 2023 - DOW released the fifth episode of its "Seek Together" podcast, titled "The Art of Finding Opportunity." The episode features insights from Rafael Cayuela, Dow's Corporate Chief Economist, and renowned artist Carole A. Feuerman. They discuss the role of art in navigating challenging times and fostering innovation. Rafael shares his personal journey with art collection, emphasizing its significance in reflecting societal impacts from events like the pandemic. Carole highlights the importance of sustainable materials in her art, aiming to evoke emotion and creativity.
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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.
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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.