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Dec 31, 2021
Dow Q4 2021 Earnings Report
Dow's performance reflected growth across all operating segments, overcoming supply and logistics constraints and higher raw material and energy costs.
Key Takeaways
Dow reported strong Q4 2021 results with net sales of $14.4 billion, up 34% year-over-year, and GAAP earnings per share of $2.32. The company overcame supply and logistics constraints and higher raw material and energy costs due to underlying demand strength and operating discipline.
GAAP earnings per share (EPS) was $2.32. Operating EPS was $2.15, compared to $0.81 in the year-ago period.
Net sales were $14.4 billion, up 34% versus the year-ago period, with improvement in every operating segment, business and region.
GAAP Net Income was $1.8 billion. Operating EBIT was $2.3 billion, up $1.2 billion from the year-ago period, with gains in every operating segment due to margin expansion and increased equity earnings.
Returns to shareholders totaled $912 million in the quarter, comprised of $512 million in dividends and $400 million in share repurchases.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
In 2022, Dow expects continued demand strength across its end markets, supported by growing industrial production and sustained consumer spending.
Positive Outlook
- Continued demand strength across end markets.
- Supported by growing industrial production.
- Sustained consumer spending.
- Working hard to normalize operating rates.
- Working hard to normalize inventory and service levels.
Challenges Ahead
- Global economy continues to be impacted by supply chain pressures.
- Logistics constraints.
- Navigating near-term dynamics.
- Implementation of strategy.
- Progress on higher-return, lower-risk growth projects and efficiency programs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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