What were Dow's (NYSE:DOW) net sales and net income for Q1 2026?

Dow reported net sales of $9.8 billion for Q1 2026, reflecting a 6% decline compared to the same period last year. The company posted a GAAP net loss of $445 million, with operating earnings before interest and taxes (EBIT) at $154 million.

What factors contributed to Dow's sales decline in Q1 2026?

The 6% sales decline was mainly driven by a 7% decrease in local pricing and a 2% decline in overall volumes, both of which were impacted by persistent headwinds in the global chemical industry.

How did Dow's operating earnings perform in Q1 2026?

Dow’s operating earnings before interest and taxes (EBIT) were $154 million, but the company recorded an operating loss of $0.14 per share, highlighting the impact of the tough market conditions.

How did Dow manage its cash flow in Q1 2026?

Dow's cash flow from continuing operations surged to $1.1 billion, a $1 billion increase from Q1 2025. This improvement was driven by a substantial payment from NOVA Chemicals following a long-standing legal dispute and disciplined working capital management.

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Dow reports revenue decline and quarterly loss amid pricing pressures

Written by Brie CarterPublished Apr 23, 2026, 12:00 AMLast Updated Jul 6, 2026, 10:29 AM

Dow (NYSE:DOW) reported a challenging start to the 2026 fiscal year, navigating a landscape of depressed pricing and softened global demand.

The Midland, Michigan-based materials science giant posted net sales of $9.8 billion for the first quarter, representing a 6% decline compared to the same period last year.

The drop was primarily attributed to a 7% decrease in local pricing and a 2% decline in overall volumes, reflecting persistent headwinds in the global chemical industry.

The company reported a GAAP net loss of $445 million, while operating earnings before interest and taxes (EBIT) stood at $154 million.

On a per-share basis, Dow recorded an operating loss of $0.14.

A significant factor in the quarter's financial profile was the company's decision to suspend equity loss recognition for its Sadara joint venture, a move that aims to streamline reporting as the entity continues its restructuring process.

Despite the bottom-line loss, Dow’s cash position saw a dramatic year-over-year improvement.

Cash flow from continuing operations reached $1.1 billion, a $1 billion increase over the first quarter of 2025.

This surge was driven by a substantial payment received from NOVA Chemicals following a long-standing legal dispute, as well as disciplined improvements in working capital management.

During the quarter, Dow returned $252 million to its investors through dividends, maintaining its focus on capital allocation despite the volatile market conditions.