Dow Reports Third Quarter Losses
Dow AgroSciences reports losses in its third quarter earnings. Agricultural Sciences reported third-quarter sales of $1.2 billion, down from $1.4 billion in the year-ago period. Sales were impacted by lower crop commodity prices in Latin America, high channel inventories and significant currency headwinds.
Crop Protection reported decreased sales due to price declines driven by high channel inventories, currency headwinds and lower volume, primarily in Latin America. Demand remained strong for new product technologies (up 8 percent year to date), led by spinetoram insecticide and ISOCLAST active.
Seeds reported decreased sales on the shift of acreage from corn to soybeans in Latin America and North America, as well as inventory pressures. On a year-to-date basis, Agricultural Sciences gained market share in Brazil in both Seeds and Crop Protection.
More information is available here: http://www.dow.com/en-us/investor-relations/financial-reporting/earnings/q3-2015