Investing.com - The largest U.S. chemicals company Dow Chemical reported better-than-expected fourth quarter earnings and revenue figures ahead of Wednesday’s opening bell, sending its shares higher in pre-market trade.
Dow Chemical said adjusted earnings per share came in at USD0.65 during the fourth quarter, easily surpassing expectations for earnings of USD0.43 per share. The company’s fourth quarter revenue totaled USD14.4 billion, beating forecasts for revenue of USD14.14 billion.
The firm said it was boosting its stock buyback program to USD4.5 billion.
Andrew N. Liveris, Dow's chairman and chief executive officer, stated, “Dow's fourth quarter and full-year performance is the result of successful execution against our stated goals and commitments throughout the year.”
Following the release of the report, Dow Chemical shares jumped 4.2% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was modestly higher. The Dow Jones Industrial Average futures indicated a gain of 0.15% at the open, S&P 500 futures pointed to a rise of 0.15% and Nasdaq 100 futures indicated an increase of 0.45%.
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Dow Chemical Q4 earnings, revenue beat expectations; shares up 4%
Published 01/29/2014, 07:12 AM
Dow Chemical Q4 earnings, revenue beat expectations; shares up 4%
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