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Dow Chemical Sees Promise in Key Markets Ahead of $130B DuPont Merger

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Dow Chemical (DOW - Get Report) recorded a first quarter very similar to that of merger partner DuPont (DD - Get Report) , beating earnings estimates in part thanks to the success of an aggressive campaign to bring down costs.

Midland, Mich.-based Dow reported first-quarter earnings of 89 cents a share on sales of $10.7 billion, topping the consensus earnings estimate of 83 cents and revenue forecast of $10.66 billion. The results were released just days after DuPont similarly beat analysts' earnings estimates. The two companies hope to complete their $130 billion merger before year's end.

The results didn't include a one-time charge relating to Dow's February move to settle a 2005 price fixing lawsuit. Dow shares, up 4% on the year, traded down less than 2% on Thursday morning to $52.65.

Dow, like DuPont, is streamlining ahead of the deal, completing about $90 million of its planned $300 million in 2016...


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