Companies · DOW
Dow, Inc.
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Latest analysis
Updated Oct 23, 2026
Dow Q3 2026: Price-Led Revenue Surge of 13% Masks Volume Weakness and Middle East Supply Disruption
Dow delivered Q3 2026 net sales of $11.3 billion, up 13% from $10.0 billion in Q3 2025, driven entirely by a 14% local price increase against a 1% volume decline — the strongest quarterly price realization in recent cycles, directly attributable to Middle East conflict-driven supply chain disruption. Packaging & Specialty Plastics led with 18% net sales growth and Operating EBIT of $585 million versus $199 million in the prior year period, while Asia Pacific volume collapsed 12% as the region bore the brunt of Hormuz corridor disruption. Transform to Outperform delivered approximately $450 million of Operating EBITDA improvement in the first nine months of 2026, and free cash flow turned decisively positive at $2.4 billion versus negative $1.1 billion in the same period last year.
Tone: mixedRevenue
$40B
DOW 10-K · FY 2025
Employees
34,600
Revenue FY2024
$43B
Founded
1897
Profile
DOW 10-K Item 1 · Feb 3, 2026Dow Inc. is a global materials science company serving customers in packaging, infrastructure, mobility, and consumer applications through three operating segments: Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings. The company operates 91 manufacturing sites in 29 countries, employing approximately 34,600 people. In 2025, Dow reported net sales of approximately $40 billion.
Read filing description ↓ Collapse description ↑
Dow is one of the world's leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications. The Company's global breadth, asset integration and scale, customer-focused innovation and leading business positions enable it to achieve profitable growth and help deliver a sustainable future. Dow operates manufacturing sites in 29 countries and employs approximately 34,600 people. The Company conducts its worldwide operations through six global businesses organized into three operating segments: Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings. The Packaging & Specialty Plastics segment employs the industry's broadest polyolefin product portfolio, supported by the Company's proprietary catalyst and manufacturing process technologies. The Industrial Intermediates & Infrastructure segment develops important intermediate chemicals essential to manufacturing processes, as well as downstream, customized materials and formulations. The Performance Materials & Coatings segment includes industry-leading franchises that deliver a wide array of solutions into consumer, infrastructure and mobility end-markets, primarily utilizing acrylics-, cellulosics- and silicone-based technology platforms. The Company's ambition includes becoming the most sustainable materials science company, with a strategy to advance the well-being of humanity by helping lead the transition to a sustainable planet and society.
Primary products
- Ethylene
- Propylene
- Polyethylene (PE, HDPE, LDPE, LLDPE)
- Polyolefin elastomers
- Ethylene vinyl acetate (EVA)
- EPDM rubber
Business segments
End markets
Geographies
Named competitors
“The Company's unique advantages compared with its competitors include extensive low-cost feedstock positions around the world; unparalleled scale, global footprint and market reach; world-class manufacturing sites in every geographic region; deep customer and brand owner understanding; portfolio of higher-value functional polymers, such as polyolefin elastomers, semiconductive and jacketing compound solutions and wire and cable insulation; and market-driven application development and technical support.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Net sales declined across all operating segments and geographic regions in 2025, driven primarily by a 7 percent decrease in local price, with volume flat year-over-year.
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