The Dow Chemical Co. said Thursday that its first-quarter earnings fell 34 percent after it took a pre-tax charge of $357 million to close some plants. The largest U.S. chemical maker reported income of $412 million, or 35 cents per share, from January to March. That compared with $625 million, or 54 cents per share, for the same quarter in 2011. Net income in both quarters included $85 million in preferred stock dividends. Excluding restructuring costs related to the plant closures and other special items, Dow said it earned 61 cents per share. Revenue was flat at $14.7 billion.
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