Dow Inc. Q3 2025 Earnings Recap

Dow reported third-quarter 2025 net sales of $10 billion, reflecting a sequential improvement in earnings and cash flow despite ongoing industry pressures. Key growth in the Industrial Intermediates & Infrastructure segment was bolstered by strategic cost reductions and working capital improvements.

Key Takeaways

• EBITDA reached $868 million, an improvement from the previous quarter, driven by growth investments and lower maintenance activities.
• Cash flow from operations surged by $1.6 billion sequentially, aided by enhanced working capital and advanced payments for long-term agreements.
• Dow has executed over $6.5 billion in strategic actions aimed at cost reductions, with $400 million in savings expected this year.
• A bond issuance of $1.4 billion was completed to enhance financial flexibility amid tight credit spreads.
• Capital expenditures were reduced to align with a $1 billion reduction target, delaying the Alberta project until market conditions improve.