The Dow Chemical Company (NYSE:DOW) closed at $34.99 in the previous trading session after climbing up by $0.62 (or 1.80%). It has hit the day’s low at $34.65 and the day’s high at $35.10.
The company, yesterday, has posted the results of 2nd quarter results of the year 2013. The earnings per share of the company have risen to $1.87. This rise has gone up by 16 percent as compared to the previous year. There has been a decline in the ratio of Net Debt to Total Capital to 36.4 percent. There are many highlights of second quarter 2013 that are mentioned below.
In the same quarter last year, the earnings per share of the company are $0.55 per share while this time it is high. The company’s receipt of direct cash payment of nearly $2.2 billion and the final resolution of the K-Dow arbitration impacted the results of this quarter. This award was subsequently applied by the company to debt reduction. This debt reduction drove the net debt to total capitalization of the company down to 36.4 percent.
From the various operations during the quarter, the company generated a cash flow of $3.7 billion. Year to date, about $4.2 billion was generated by the company in cash flow from operations. This represents an improvement of $2.8 billion as compared with the previous year. Agricultural sciences led to the sales gain of the company and these sales were $14.6 billion. In Performance Materials also, the sales increased by 1 percent.
In most of the geographic areas, the volume increased by 2 percent with gains. In emerging geographic areas, volume growth rose by 9 percent. In Latin America, there was a double digit growth (up 12 percent) and in Asia Pacific, the volume increased by 7 percent.
The chairman and the chief executive officer of Dow, Andrew N. Liveris said that the results are indicative of the focus of the company.
