Dow reported strong Q2 2026 financial results with net sales of $12.1 billion, driven by price increases and growth across all segments and regions. The company continued to advance its Transform to Outperform program, delivering operational improvements and cost savings. Leadership changes included the appointment of Karen S. Carter as CEO effective July 1, 2026.

• Dow reported net sales of $12.1 billion in Q2 2026, a 20% increase from Q2 2025, with local price increases of 20% and a slight volume decline of 1% [N1].
• All operating segments and geographic regions saw net sales increases, with Packaging & Specialty Plastics up 27%, Industrial Intermediates & Infrastructure up 14%, and Performance Materials & Coatings up 11% [N3].
• Local price increases were broad-based, with Packaging & Specialty Plastics up 30%, Industrial Intermediates & Infrastructure up 15%, and Performance Materials & Coatings up 4% [N2].
• Volume decreased 1% overall, with increases in Latin America (+9%) and U.S. & Canada (+3%) offset by declines in Asia Pacific (-9%) and EMEAI (-4%) [N2].
• Restructuring and asset-related charges were $503 million in Q2 2026, related to severance and exit costs associated with the Transform to Outperform and 2025 Restructuring Program [N1].
• Net income available for common stockholders was $721 million in Q2 2026, compared with a loss of $835 million in Q2 2025, with earnings per share of $0.99 versus a loss of $1.18 per share [N3].
• Cash provided by operating activities from continuing operations was $1.324 billion in Q2 2026, up $1.794 billion from Q2 2025, driven by improved earnings [N1].
• Karen S. Carter was appointed CEO effective July 1, 2026, succeeding Jim Fitterling who became Executive Chair [N4].

Dow's business benefits from strong pricing power across its segments and regions, as evidenced by 20% local price increases in Q2 2026. The Transform to Outperform program is delivering operational improvements and cost savings, contributing to near-term EBITDA growth. The company's diversified geographic presence and feedstock flexibility help mitigate regional risks and volatile energy prices. Continued innovation and investments in sustainability position Dow to capture growth in attractive end markets.

Dow faces risks from global economic uncertainty, including inflationary pressures, trade policy changes, tariffs, and geopolitical conflicts such as the Russia-Ukraine war and Middle East tensions. These factors have caused supply chain disruptions, increased costs, and volume declines in certain regions. The company has incurred significant restructuring charges related to its transformation initiatives. Market volatility and regulatory changes could adversely impact Dow's financial performance and operational stability.

Dow's moat is supported by its global scale, integrated asset footprint, and diversified product portfolio serving high-growth markets. Its cost-advantaged geographic presence, feedstock flexibility, and strong innovation pipeline contribute to competitive advantages. The company's Transform to Outperform program aims to enhance operational efficiency and cost structure, further strengthening its market position. Dow's longstanding customer relationships and focus on sustainability and circular economy initiatives also support its differentiation.

• Geopolitical and Economic Risks: Ongoing conflicts in the Middle East and Russia-Ukraine, along with trade policy changes and tariffs, create volatility in energy prices, supply chains, and market demand, potentially impacting sales and costs.
• Supply Chain and Input Cost Volatility: Disruptions in global supply chains and inflationary pressures on raw materials and energy can increase production costs and reduce demand for Dow's products.
• Execution Risks of Transformation Programs: The Transform to Outperform program involves significant restructuring and cost reduction initiatives, which carry risks related to implementation, employee impacts, and realization of anticipated benefits.
• Regulatory and Compliance Risks: Dow operates under extensive federal, state, local, and international regulations, including trade controls and environmental laws, which may affect operations and costs.

• Dow Inc. is a global materials science company operating in high-growth markets with a diversified geographic footprint and three main operating segments.
• The company reported $12.1 billion in net sales for Q2 2026, reflecting a 20% increase from the prior year driven primarily by price increases across all segments and regions, partially offset by a slight volume decline.
• Dow's Transform to Outperform program focuses on operational simplification, cost reduction, and growth acceleration, delivering $190 million in Operating EBITDA improvement in the first half of 2026.
• Net income was $721 million in Q2 2026, reversing prior year losses.
• The company maintained strong liquidity with $4.11 billion in cash and equivalents as of March 31, 2026.
• Dow operates manufacturing sites in 29 countries and employs approximately 34,600 people.
• Operations are organized into three segments: Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings.
• Geographic sales are distributed across the U.S. & Canada, EMEAI, Asia Pacific, and Latin America.
• Dow's moat is supported by global scale, integrated assets, diversified product portfolio, cost-advantaged geographic presence, feedstock flexibility, and innovation pipeline.
• The Transform to Outperform program aims to enhance operational efficiency and cost structure.
• Dow has longstanding customer relationships and focuses on sustainability and circular economy initiatives.
• Risks include geopolitical conflicts, economic uncertainty, supply chain disruptions, trade policy changes, and execution risks related to transformation programs.
• Restructuring and asset-related charges were $503 million in Q2 2026 related to severance and exit costs associated with transformation initiatives.
• Karen S. Carter was appointed CEO effective July 1, 2026, succeeding Jim Fitterling who became Executive Chair.
• Cash provided by operating activities from continuing operations was $1.324 billion in Q2 2026, up $1.794 billion from Q2 2025, driven by improved earnings.