Investing.com - The largest U.S. chemicals company Dow Chemical (NYSE:DOW) reported better-than-expected third quarter earnings and revenue figures ahead of Wednesday’s opening bell.
Dow Chemicals said adjusted earnings per share in the three months ended September 30 was $0.72 cents, surpassing expectations for earnings of $0.67 cents per share. This compares with adjusted earnings of $0.50 per share in the same quarter last year.
The company’s third quarter revenue totaled $14.40 billion, beating forecasts for revenue of $14.31 billion.
The Company reported increased sales in all geographic areas. Sales in developed geographies grew 4%, led by gains in North America, where sales rose 7%. Sales in emerging geographies increased 6%, due primarily to strength in Performance Plastics in Latin America.
Andrew N. Liveris, Dows chairman and chief executive officer, stated, “Dow delivered a strong quarter of top- and bottom-line growth. Our low-cost positions and geographic diversification enabled growth and improving operating rates in the quarter."
Following the release of the report, Dow Chemical (NYSE:DOW) shares rallied 5.8% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was steady. The Dow futures indicated a gain of 0.05% at the open, the S&P 500 futures pointed to a decline of 0.05%, while Nasdaq 100 futures tacked on 0.05%.