NYSE$DOW
Dow Inc. · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Dow's third quarter performance was driven by rebounding demand and strategic actions to focus on cash, reduce expenses, and pay down debt.
Dow reported Q3 2020 results with net sales of $9.7 billion, a decrease of 10% year-over-year, but a 16% increase sequentially. The company reported a GAAP loss per share of $0.04, but an operating EPS of $0.50. Dow achieved a net debt improvement of more than $1.8 billion year-to-date and completed the divestiture of its North American rail infrastructure assets.
- Net sales were $9.7 billion, down 10% year-over-year, but up 16% sequentially.
- GAAP loss per share was $0.04; Operating EPS was $0.50.
- Free cash flow was $1.5 billion, up $156 million year-over-year.
- The company achieved a net debt improvement of more than $1.8 billion year-to-date.
Headline financials
Revenue & EPS history
Dow · Revenue · Quarterly
$9.71B
Revenue by segment
Dow · $9.71B total across 4 segments · Q3 2020
- Packaging & Spec. Plastics$4.57B-9.8%47.0%
- Industrial & Infra$3.06B-9.1%31.5%
- Performance Materials$2B-11.0%20.6%
- Corporate$87M+0.0%0.9%
Forward guidance
Dow enters the fourth quarter with sequential momentum and a consistent focus on cash.
Tailwinds
- Sequential momentum entering the fourth quarter.
- Improved financial flexibility.
- Consistent focus on cash generation.
- Proactive and agile approach to evolving market conditions.
- Fundamental competitive advantages of industry-leading feedstock flexibility.
Headwinds
- The recovery has been uneven across markets.
- Expectation of continued uneven recovery in the near term.
- Impact of the COVID-19 pandemic.
- Multiple natural disasters.
- Uncertainty in global economic conditions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
-1.0%
Avg return
Earnings day
-0.1%
Avg return
5 days after
-1.5%
Avg return
30 days after
42%
14 / 33 earnings
Positive
+13.0%
Q3 2025
Best reaction
-9.4%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.8% | -2.1% | -7.2% | |
| Q4 2025 | -1.9% | +9.8% | +10.6% | |
| Q3 2025 | +13.0% | +17.0% | +2.3% | |
| Q2 2025 | +2.0% | +2.7% | +9.2% | |
| Q1 2025 | +2.6% | +5.7% | -2.3% | |
| Q4 2024 | -6.1% | -6.1% | -7.2% | |
| Q3 2024 | -3.5% | -3.9% | -11.7% | |
| Q2 2024 | -0.9% | +0.7% | +0.4% | |
| Q1 2024 | +0.5% | -0.1% | +1.4% | |
| Q4 2023 | +1.8% | +2.6% | +6.2% | |
| Q3 2023 | -1.5% | -0.3% | +6.6% | |
| Q2 2023 | +2.2% | +5.5% | +1.9% | |
| Q1 2023 | -5.1% | -1.8% | -9.1% | |
| Q4 2022 | +1.9% | +2.5% | -0.2% | |
| Q3 2022 | +3.9% | +6.0% | +10.9% | |
| Q2 2022 | -3.2% | -2.4% | +5.6% | |
| Q1 2022 | +1.4% | -0.3% | +0.8% | |
| Q4 2021 | +4.9% | +8.0% | +4.2% | |
| Q3 2021 | -2.5% | -2.0% | -4.3% | |
| Q2 2021 | +0.6% | +3.7% | +1.9% | |
| Q1 2021 | -4.2% | -3.3% | +6.2% | |
| Q4 2020 | -4.6% | +0.4% | +9.0% | |
| Q3 2020 | -0.0% | -4.1% | +12.7% | |
| Q2 2020 | -3.9% | -3.9% | -1.7% | |
| Q1 2020 | -9.4% | -10.9% | +3.0% | |
| Q4 2019 | +2.8% | -0.9% | -14.3% | |
| Q3 2018 | +3.5% | +3.2% | +9.6% | |
| Q3 2019 | +6.9% | +9.0% | +14.8% | |
| Q2 2019 | -7.0% | -8.3% | -22.9% | |
| Q4 2017 | -7.0% | -8.3% | -22.9% | |
| Q4 2018 | -7.0% | -8.3% | -22.9% | |
| Q2 2018 | -7.0% | -8.3% | -22.9% | |
| Q1 2019 | -5.0% | -5.7% | -16.7% | |
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| Q1 2012 | — | — | — |
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