DowDuPont Inc reported a 28 percent fall in adjusted quarterly profit on Thursda...
- DowDuPont Inc reported a 28 percent fall in adjusted quarterly profit on Thursday, as floods in the U.S. midwest and a sluggish growth in auto and smartphone markets hit prices of its specialty and agricultural chemicals as well as volumes in North America.
Dow Inc, which makes chemicals used in brake fluids and packaging materials, was spun off on April 1. It posted a 24 percent drop in core earnings from operations, in line with estimates, hurt by lower chemical prices. As a combined company, DowDuPont’s adjusted net income fell to $1.89 billion in the first quarter ended March 31, from $2.63 billion a year earlier.
DowDuPont said in March that floods had limited its ability to deliver products to customers, while delaying pre-season applications.
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