Dow Inc. Files Q2 2024 10-Q Report
Ticker: DOW · Form: 10-Q · Filed: Jul 26, 2024 · CIK: 1751788
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: DOW
TL;DR
Dow's Q2 10-Q is in: financials look solid, watch for detailed performance metrics.
AI Summary
Dow Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position, including assets and liabilities. Specific financial figures and operational details for the second quarter of 2024 are presented.
Why It Matters
This report provides investors and analysts with a detailed look at Dow's financial health and operational performance during the second quarter of 2024, influencing investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
- 20240726 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- DOW INC. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240726 (date) — Filing date
- DOW CHEMICAL CO /DE/ (company) — Previous entity name
FAQ
What is the primary purpose of this 10-Q filing?
This 10-Q filing provides a comprehensive update on Dow Inc.'s financial performance and position for the fiscal quarter ending June 30, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on July 26, 2024.
What is the fiscal year end for Dow Inc.?
Dow Inc.'s fiscal year ends on December 31.
What is the Standard Industrial Classification (SIC) code for Dow Inc.?
The SIC code for Dow Inc. is 2821, which corresponds to Plastics, Materials, Synth Resins & Nonvulcan Elastomers.
What are some of the key financial statement items referenced in the filing?
The filing references items such as 'OtherAssetsCurrent' and 'OtherAssetsNoncurrent' from the US GAAP taxonomy.
Filing Stats: 4,860 words · 19 min read · ~16 pages · Grade level 17.1 · Accepted 2024-07-26 08:01:22
Key Financial Figures
- $0.01 — tered Dow Inc. Common Stock, par value $0.01 per share DOW New York Stock Exchange
Filing Documents
- dow-20240630.htm (10-Q) — 2608KB
- dowinc-q26302024ex23.htm (EX-23) — 11KB
- dowinc-q26302024ex311.htm (EX-31.1) — 11KB
- dowinc-q26302024ex312.htm (EX-31.2) — 11KB
- dowinc-q26302024ex321.htm (EX-32.1) — 5KB
- dowinc-q26302024ex322.htm (EX-32.2) — 5KB
- dow-20240630_g1.jpg (GRAPHIC) — 141KB
- 0001751788-24-000138.txt ( ) — 14378KB
- dow-20240630.xsd (EX-101.SCH) — 75KB
- dow-20240630_cal.xml (EX-101.CAL) — 96KB
- dow-20240630_def.xml (EX-101.DEF) — 539KB
- dow-20240630_lab.xml (EX-101.LAB) — 817KB
- dow-20240630_pre.xml (EX-101.PRE) — 704KB
- dow-20240630_htm.xml (XML) — 2862KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements . 5 Dow Inc. and Subsidiaries: Consolidated Statements of Income . 5 Consolidated Statements of Comprehensive Income . 6 Consolidated Balance Sheets . 7 Consolidated Statements of Cash Flows . 8 Consolidated Statements of Equity . 9 The Dow Chemical Company and Subsidiaries: Consolidated Statements of Income . 10 Consolidated Statements of Comprehensive Income . 11 Consolidated Balance Sheets . 12 Consolidated Statements of Cash Flows . 13 Consolidated Statements of Equity . 14 Dow Inc. and Subsidiaries and The Dow Chemical Company and Subsidiaries: Notes to the Consolidated Financial Statements . 15 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations . 39 Results of Operations . 40 Changes in Financial Condition . 46 Other Matters . 53 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk . 53 Item 4.
Controls and Procedures
Controls and Procedures . 54
– OTHER INFORMATION
PART II – OTHER INFORMATION Item 1. Legal Proceedings . 55 Item 1A. Risk Factors . 55 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds . 55 Item 4. Mine Safety Disclosures . 55 Item 5. Other Information . 55 Item 6. Exhibits . 56 SIGNATURE 57 3 Table of Contents Dow Inc. and Subsidiaries The Dow Chemical Company and Subsidiaries This Quarterly Report on Form 10-Q is a combined report being filed by Dow Inc. and The Dow Chemical Company and its consolidated subsidiaries ("TDCC" and together with Dow Inc., "Dow" or the "Company") due to the parent/subsidiary relationship between Dow Inc. and TDCC. The information reflected in the report is equally applicable to both Dow Inc. and TDCC, except where otherwise noted. Each of Dow Inc. and TDCC is filing information in this report on its own behalf and neither company makes any representation to the information relating to the other company. CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS Certain statements in this report are "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements often address expected future business and financial performance, financial condition, and other matters, and often contain words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "may," "opportunity," "outlook," "plan," "project," "seek," "should," "strategy," "target," "will," "will be," "will continue," "will likely result," "would" and similar expressions, and variations or negatives of these words or phrases. Forward-looking statements are based on current assumptions and expectations of future events that are subject to risks, uncertainties and other factors that are beyond Dow's control, which may cause actual results to differ materially from those projected, anticipated or impli
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS Dow Inc. and Subsidiaries Consolidated Statements of Income Three Months Ended Six Months Ended In millions, except per share amounts (Unaudited) Jun 30, 2024 Jun 30, 2023 Jun 30, 2024 Jun 30, 2023 Net sales $ 10,915 $ 11,420 $ 21,680 $ 23,271 Cost of sales 9,591 9,875 19,079 20,504 Research and development expenses 196 205 400 419 Selling, general and administrative expenses 390 408 832 836 Amortization of intangibles 77 81 158 162 Restructuring and asset related charges - net — 8 45 549 Equity in earnings (losses) of nonconsolidated affiliates 26 ( 57 ) 43 ( 105 ) Sundry income (expense) - net 76 31 137 110 Interest income 42 66 107 142 Interest expense and amortization of debt discount 197 172 396 357 Income before income taxes 608 711 1,057 591 Provision for income taxes 150 210 61 163 Net income 458 501 996 428 Net income attributable to noncontrolling interests 19 16 41 36 Net income available for Dow Inc. common stockholders $ 439 $ 485 $ 955 $ 392 Per common share data: Earnings per common share - basic $ 0.62 $ 0.68 $ 1.35 $ 0.55 Earnings per common share - diluted $ 0.62 $ 0.68 $ 1.35 $ 0.54 Weighted-average common shares outstanding - basic 703.8 707.0 704.1 707.6 Weighted-average common shares outstanding - diluted 705.3 709.9 705.5 710.7 Depreciation $ 488 $ 484 $ 969 $ 959 Capital expenditures $ 723 $ 561 $ 1,437 $ 1,001 See Notes to the Consolidated Financial Statements. 5 Table of Contents Dow Inc. and Subsidiaries Consolidated Statements of Comprehensive Income Three Months Ended Six Months Ended In millions (Unaudited) Jun 30, 2024 Jun 30, 2023 Jun 30, 2024 Jun 30, 2023 Net income $ 458 $ 501 $ 996 $ 428 Other comprehensive income (loss), net of tax Unrealized gains on investments 61 61 55 92 Cumulative translation adjustments ( 43 ) ( 103 ) ( 165 ) ( 2 ) Pension and other postretirement benefit plans 17 ( 4 ) 34 2 Derivative instruments ( 6 ) 44 ( 28 ) ( 20 ) Total othe