Dow Chemical 2Q Earnings Up 2%

Midland, MI, July 26, 2007–Dow Chemical said its second-quarter profit rose 2% as strong international growth offset weakness in the North American housing and automotive sectors.

Net income climbed to $1.04 billion, or $1.07 per share, for the three months ended June 30 from $1.02 billion, or $1.05 per share, a year ago.

Revenue jumped 6% to $13.27 billion from $12.51 billion in the year-ago quarter.

Analysts surveyed by Thomson Financial had forecast profit of $1.05 per share on revenue of $12.63 billion.

Sales in the Performance Chemicals segment were $2.1 billion, 5% higher than $2.0 billion in the same period last year. Volume improved 2%, as strong growth in Asia Pacific and steady demand in Latin America and Europe more that offset a downturn in both North America and IMEA.

Dow Latex saw volumes fall, with highly competitive industry conditions for coated paper and carpet, and sluggish demand for architectural coatings in North America.