Dow (DOW) to deliver 2Q26 earnings of approximately $2.2 billion

Investing.com -- Dow Inc. (NYSE: DOW) is scheduled to participate in a fireside chat at the 2026 Wells Fargo 16th Annual Industrials & Materials Conference on Tuesday at 9:45 a.m. ET. Chief Financial Officer Jeff Tate will represent the company.

The company released presentation materials ahead of the event showing second-quarter quarter-to-date volume up low single digits compared to prior years. Supply tightening is stabilizing European markets and benefiting margins for local producers, according to the materials.

The oil-to-gas spread remains at multi-year highs, while global oil inventories are at multi-year lows. The Americas feedstock advantage remains intact, the company said.

Polyethylene packaging demand remains resilient, and U.S. retail spending remains strong. Demand for coatings applications is increasing as the seasonal high-demand period begins. Global auto sales continue to decline due to high prices and economic uncertainty.

Dow captured a 30 cents per pound polyethylene price increase in North America in April, with another announced in June. About 80% of the Packaging & Specialty Plastics segment sales are in resilient, higher-value applications.

MDI and PO supply is tightening in North America following industry outages. The company reported strong order loading relative to prior periods.

The company expects growth and margin expansion during the seasonal coatings demand period. The Barry, U.K. siloxanes shutdown remains on track for mid-2026.

"We expect to deliver 2Q26 earnings of approximately $2.2 billion, above our prior guidance and current consensus," management stated in the presentation.

Dow maintains approximately $14 billion of liquidity with no substantive debt maturities until 2029. The company received $1 billion from NOVA litigation in the first quarter of 2026 and expects roughly $300 million additional NOVA-related cash this year.

The company expects total self-help benefits of about $1.1 billion in 2026, including $500 million from its 2025 cost-savings program, roughly $500 million from Transform to Outperform, and about $100 million from prior growth investments and asset actions.

Dow had about 37,000 employees at year-end 2024 and is targeting about 29,000 by year-end 2027 through announced programs.

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