MIDLAND, Michigan — Dow Chemical Co. (DOW) on Thursday reported second-quarter profit of $1.22 billion.
On a per-share basis, the Midland, Michigan-based company said it had net income of 97 cents. Earnings, adjusted for non-recurring gains, came to 91 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The specialty chemicals maker posted revenue of $12.91 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $13.11 billion.
Dow Chemical shares have risen almost 10 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 3 percent. The stock has decreased roughly 5 percent in the last 12 months.
Keywords: Dow Chemical, Earnings Report