Dow Chemical Co. has reported that second-quarter sales were flat versus the same period from a year ago at $14.6 billion, while earnings increased 9 percent to $4.2 billion.
Sales gains in the quarter were led by its agricultural sciences business, and revenues also grew in performance materials segment, which includes Dow's polyurethane activities.
In the performance materials business, sales were $3.4 billion, up 1 percent from the same period in 2012. Volume grew by 4 percent, while price declined 3 percent compared with the same quarter last year, Dow said in its quarterly report. The company added the volume increases were driven by improved assets and market share gains within polyurethane and propylene oxide/propylene glycol.
Earnings for performance materials were $284 million, down from $350 million in the second quarter of 2012.
For the company as a whole, volume increased 2 percent, led by double-digit growth in Latin America.
