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Dow Chemical Beats Estimates on Farm Sales Jump

Thursday, 25 Apr 2013 | 8:16 AM ET
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Dow Chemical's first-quarter earnings beat analysts' estimates, helped by higher demand for its seeds and crop-protection chemicals in the Americas.

Following the report, the company's stock rose in premarket trade. (Click here to track the company's shares after the earnings release.)

Sales at its agriculture science business, which supplies seeds, oils and farm chemicals, jumped 14 percent in the quarter, the highest growth among its business units.

Dow Beats on Earnings But Light on Revenue
"A divestiture in Europe account for more than half of those revenue differences", said Andrew Liveris, President, Chairman & CEO of Dow Chemical, discussing his company's first quarter results.

Net income rose about 33 percent to $550 million, or 46 cents per share, in the first quarter from $412 million, or 35 cents per share, a year earlier.

Excluding one-time items, earnings were 69 cents per share.

Revenue fell 2 percent to $14.4 billion.

Analysts on average expected earnings of 61 cents per share on revenue of $14.88 billion, according to Thomson Reuters.

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