Dow's second quarter operating EPS of $1.44 beats estimates, driven by 20% price increases.

Dow reported second quarter 2026 net sales of $12.1 billion, up 20% year-over-year, and operating EPS of $1.44, significantly beating analyst estimates of $1.20 and reversing a loss from the prior year.

Key Highlights

• Revenue growth of 20% year-over-year was driven entirely by a 20% increase in local prices, as overall volumes declined 1%.
• The Packaging & Specialty Plastics segment led results, with sales up 27% YoY and Operating EBIT surging by $1.2 billion to $1.3 billion due to higher polyethylene prices.
• Operating EBITDA of $2.31 billion exceeded expectations of $2.2 billion and increased from $703 million in the prior-year period, reflecting significant margin expansion.