Dow pulls chemical shares lower with downbeat outlook, dividend cut

Eastman Chemical Co

24/07/2025 15:10

Updates

** Shares of chemical companies fall after Dow DOW.N forecast Q3 sales below analysts' estimate and slashed dividend

** Dow down 13.65% at $26.23, the lowest since April 9

** Peers LyondellBasell Industries LYB.N slips 7.5%, Huntsman HUN.N declines 5.7%, and Westlake WLK.N dips 3.2%

** Olin OLN.N down 2%, Celanese CE.N falls 2.6% and Eastman Chemical EMN.N declines 1.9%

** Dow posts Q2 adj. loss of 42 cents per share compared with analysts' estimate of 17-cents-per-share loss - data compiled by LSEG

** Company also says it is cutting dividend by 50% in response to prolonged industry downturn

** Dow forecasts Q3 sales of $10.2 bln, below analysts' expectation of $10.6 bln

** Says ongoing tariff and geopolitical uncertainty have impacted demand patterns, especially in the industrial infrastructure and durable goods sectors

** Including session's moves, DOW shares down more than 34% YTD

(Reporting by Tanay Dhumal and Sumit Saha in Bengaluru)

((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal))