RTTNews | Oct 22, 2020 06:37AM EDT

06:36 Thursday, October 22, 2020 (RTTNews.com) - Dow (DOW) reported third quarter operating earnings per share of $0.50 which excludes significant items in the quarter totaling $0.54 per share, primarily related to restructuring and asset-related charges, net of a gain on the divestiture of non-revenue generating rail infrastructure assets. This is compared to $0.91, a year ago. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.33, for the quarter. Analysts' estimates typically exclude special items. Operating EBIT was $761 million, down from $1.1 billion, last year.

Third quarter net sales were $9.7 billion, down 10% from year-ago period, primarily driven by decreased local prices due to lower global energy prices. Analysts expected revenue of $9.52 billion, for the quarter. Volume declined 1%.

Total cash and available committed liquidity at quarter-end was in excess of $13.5 billion, an increase of more than $1.5 billion over the prior quarter. The company achieved a net debt improvement of more than $1.8 billion year-to-date.

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