Midland, Michigan – Dow Chemical generated total sales of $13.9bn in the second quarter of 2021. This is up 66.21% on the same period last year.
Operating EBIT across the business rose from $57m in the second quarter of 2020 to $2.8bn in the second quarter of 2021.
Fitterling: strong Q2 demand
CEO Jim Fitterling said: 'Our second quarter results reflected strong demand in all our value chains and regions as we achieved substantial growth in sales and earnings, both sequentially and year-over-year.’
He said the company reduced debt by $1bn in the quarter and paid shareholders what he described as an industry-leading dividend.
There was strong performance in the polyurethane & construction chemicals business segment of the industrial intermediates & infrastructure division. This was driven by tight supply and robust consumer demand in durable goods, appliances and construction markets, the company said. The sales line grew because of local price increases and underling market dynamics, particularly in infrastructure applications.
Across this division as a whole, sales rose by 74.4% between the second quarter of 2020 and the second quarter of 2021, at $4.2bn. This compares with $2.4bn in the equivalent period in 2020.
Operating EBIT across the business increased from a loss of $220m in the second quarter of 2020 into positive territory, with operating EBIT of $648m in the second quarter of 2021.
