Dow reported net sales of $10.1 billion for the second quarter of 2025, down 7% year over year and 3% sequentially. Volume decreased 1% year over year and local price declined 7%. The company posted a GAAP net loss of $801 million and an operating EBIT loss of $21 million. Operating EPS was a loss of $0.42.

Performance Materials & Coatings delivered net sales of $2.1 billion, down 5% year over year, with operating EBIT of $152 million, up $6 million versus the prior year and up $103 million sequentially on lower input costs and seasonal coatings demand. Packaging & Specialty Plastics reported net sales of $5.0 billion and operating EBIT of $71 million, with results impacted by lower integrated margins and lower merchant ethylene sales following the Poly-7 startup. Industrial Intermediates & Infrastructure posted net sales of $2.8 billion and an operating EBIT loss of $185 million.

Chair and CEO Jim Fitterling said Dow is advancing actions to support near-term cash and earnings and to optimize the portfolio in a lower-for-longer environment. He added that the company is adjusting its dividend to maintain a balanced capital allocation framework and expects near-term growth projects to be operational in the third quarter.

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