The Dow Chemical Company Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Capital Expenditures Guidance for the Full Year of 2017
January 26, 2017 at 06:45 am EST
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The Dow Chemical Company announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported net sales of $13,020 million against $11,462 million a year ago. Loss before income taxes was $198 million against income of $4,148 million a year ago. Net loss attributable to company common stockholders was $33 million against income of $3,527 million a year ago. Diluted loss per share were $0.03 against income of $2.94 a year ago. Capital expenditures were $927 million against $886 million a year ago. EBITDA was $783 million against $4,963 million a year ago. GAAP results in the quarter were impacted by Certain Items, primarily due to a voluntary change in accounting policy for asbestos-related matters and charges for legacy environmental remediation activities.
For the full year, the company reported net sales of $48,158 million against $48,778 million a year ago. Income before income taxes was $4,413 million against $9,930 million a year ago. Net income attributable to company common stockholders was $3,978 million against $7,345 million a year ago. Diluted earnings per share were $3.52 against $6.15 a year ago. Capital expenditures were $3,804 million against $3,703 million a year ago. EBITDA was $8,026 million against $13,326 million a year ago.
The company provided capital expenditures guidance for the full year of 2017. CapEx for 2017 will be down when compared to the 2016.
DuPont de Nemours, Inc. specializes in the manufacture and marketing of specialty chemicals. The group provides copolymers, polyethylene, chloroform, fluorine, hydrofluoric acid, copper, hydroxylamine, precious metals, alumina hydroxide, ammonia, benzene, polyester fibers, propylene, wood pulp, acids, alcohols, chlorite, aldehydes, ethylene oxide, etc.
Net sales are distributed geographically as follows: the United States (32.4%), Asia/Pacific (43%), Europe/Middle East/Africa (18.3%), Latin America (4%) and Canada (2.3%).
The Dow Chemical Company Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Capital Expenditures Guidance for the Full Year of 2017