The earnings beat and strong cash flow generation reinforce the self-help narrative. Monitor Q4 for continued margin expansion from European asset shutdowns and the pace of working capital release, as well as any incremental impact from Middle East conflict on Asia Pacific volumes.
Price Chart
Executive Summary
Dow Inc. reported Q3 2026 net sales of $11.27B (+13% YoY) and GAAP EPS of $0.62, with operating EPS of $0.71 versus consensus of $0.64, a 10.9% beat. Revenue also beat the $11.22B consensus. The company highlighted strong price gains in Packaging & Specialty Plastics and progress on self-help initiatives, while noting volume declines in Asia Pacific due to the Middle East conflict. Guidance was not explicitly quantified, but management reiterated on-track delivery of >$1B EBITDA uplift in 2026 and 2027.
Key Financial Metrics
Key Facts
- Net sales $11.27B, up 13% YoY from $9.97B
- GAAP EPS $0.62 vs $0.08 in prior year; operating EPS $0.71 vs consensus $0.64
- Revenue consensus was $11.22B; actual $11.27B represents a beat
- Operating EBIT $887M, up $707M YoY from $180M
- Cash from operations $1.84B, up $709M YoY; free cash flow $1.13B
- Packaging & Specialty Plastics segment net sales $5.78B, up 18% YoY
- Industrial Intermediates & Infrastructure net sales $3.06B, up 8% YoY
- Performance Materials & Coatings net sales $2.25B, up 8% YoY
- Volume decreased 1% overall; local price increased 14%
- Company on track to deliver >$1B EBITDA uplift in both 2026 and 2027 from self-help actions
Financial Impact
Operating EPS of $0.71 beat consensus of $0.64 by 10.9%; revenue of $11.27B beat $11.22B consensus; operating EBIT of $887M vs $180M in prior year
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Packaging & Specialty Plastics | $5.8B | +18.0% |
| Industrial Intermediates & Infrastructure | $3.1B | +8.0% |
| Performance Materials & Coatings | $2.3B | +8.0% |
Risk Factors
- Volume declined 1% YoY, with Asia Pacific impacted by Middle East conflict
- Higher raw materials and logistics costs partially offset price gains
- Restructuring charges (Transform to Outperform) continue to weigh on GAAP results
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001751788-26-000155 |
| Document: dow-20261022.htm | 0001751788-26-000155 |
| Document: 0001751788-26-000155-index-headers.html | 0001751788-26-000155 |
| Document: 0001751788-26-000155-index.html | 0001751788-26-000155 |
| Document: 0001751788-26-000155.txt | 0001751788-26-000155 |
| 8-K Data (Synthetic) | 0001751788-26-000155 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | Institutional Cluster | $32.61 $33.99 | ▲ +4.23% | ▲ +3.52% | $33.78 (+3.59%) |
Oct 22, 2026 5d ago | 8-K | $31.81 $32.61 | ▲ +2.51% | ▲ +3.04% | $33.78 (+6.19%) |
Oct 22, 2026 5d ago | Press Release | $31.81 $32.61 | ▲ +2.51% | ▲ +3.04% | $33.78 (+6.19%) |
Oct 15, 2026 12d ago | Press Release | $29.93 $30.08 | ▲ +0.50% | ▲ +0.08% | $33.78 (+12.86%) |
Jul 23, 2026 13w ago | 8-K | $30.90 $29.84 | ▼ −3.43% | ▼ −3.53% | $33.78 (+9.32%) |
Apr 23, 2026 26w ago | 8-K | $38.53 $38.66 | ▲ +0.34% | ▼ −0.45% | $33.78 (−12.33%) |
Apr 14, 2026 28w ago | 8-K | $39.16 $38.84 | ▼ −0.82% | ▼ −1.59% | $33.78 (−13.74%) |
Mar 18, 2026 31w ago | DEFA14A | $37.49 $36.65 | ▼ −2.24% | ▼ −0.50% | $33.78 (−9.90%) |
Mar 17, 2026 32w ago | DEFA14A | $37.69 $37.49 | ▼ −0.53% | ▼ −0.26% | $33.78 (−10.37%) |
Feb 28, 2026 34w ago | Institutional Cluster | $30.60 $30.74 | ▲ +0.46% | ▲ +1.37% | $33.78 (+10.39%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers