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DOW (DOW)

Dow Inc. is a leading materials science company that operates in high-growth markets such as packaging, infrastructure, mobility, and consumer applications . The company is organized into several business segments, including Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings . Dow primarily generates revenue through product sales to manufacturers and distributors, accounting for the vast majority of its income . Additionally, Dow engages in licensing arrangements for its patents and technology, contributing to its revenue through sales-based royalties . The company's focus on innovation and sustainability, including low-carbon emissions plastics and recycling efforts, supports its strong position in the global market .

  1. Packaging & Specialty Plastics - Produces polyethylene and functional polymers used in applications such as lightweighting in cars and extending the shelf life of food.
  2. Industrial Intermediates & Infrastructure - Focuses on products like polyurethanes and construction chemicals, serving various industrial and infrastructure needs.
  3. Performance Materials & Coatings - Includes coatings and performance monomers, catering to diverse performance and aesthetic requirements in multiple industries.

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NamePositionExternal RolesShort Bio

Jim Fitterling

ExecutiveBoard

Chair and CEO

Board Member at 3M Company

Joined Dow in 1984; became CEO in 2018 and Chair in 2020; led Dow's transformation toward higher-growth markets and sustainability initiatives.

View Report →

A. N. Sreeram

Executive

SVP, Research & Development and CTO

None

Joined Dow in 2013; focuses on innovation, sustainability, and circular economy technologies.

Amy E. Wilson

Executive

General Counsel and Corporate Secretary

None

Joined Dow in 2013; became General Counsel in 2019; oversees legal and corporate governance.

Jeffrey L. Tate

Executive

Chief Financial Officer (CFO)

Board Member at Huntington Bancshares Incorporated

Joined Dow in 1992; became CFO in November 2023; key contributor to Dow's capital allocation and sustainability strategies.

John M. Sampson

Executive

SVP, Operations, Manufacturing & Engineering

None

Joined Dow in October 2020; leads operations strategy, sustainability initiatives, and workplace inclusivity.

Karen S. Carter

Executive

Chief Operating Officer (COO)

Board Member at Southwire; Chair of Catalyst Board of Advisors; Member of Michigan Black Leadership Advisory Council

Joined Dow in 1994; became COO in December 2024; previously led Packaging & Specialty Plastics and served as CHRO; advocate for sustainability and diversity.

Daniel W. Yohannes

Board

Director

Director at Xcel Energy Inc.

Joined Dow's board in 2018; former U.S. Ambassador to OECD; expertise in finance, governance, and international trade.

Debra L. Dial

Board

Director

Director at Hubbell Incorporated

Joined Dow's board in 2021; former Chief Accounting Officer at AT&T; expertise in financial reporting and governance.

Gaurdie E. Banister Jr.

Board

Director

None

Joined Dow's board in 2020; former CEO of Aera Energy LLC; expertise in energy sector and diversity advocacy.

Jacqueline C. Hinman

Board

Director

CEO of Atlas Technical Consultants; Director at International Paper and 3M Company

Joined Dow's board in 2021; former CEO of CH2M HILL Companies; expertise in infrastructure and environmental solutions.

Jerri DeVard

Board

Director

Director at Cars.com, Root, Under Armour, Mastercard, and Wells Fargo; CEO of Black Executive CMO Alliance

Joined Dow's board in 2022; extensive marketing and governance experience; advocate for diversity and inclusion.

Jill S. Wyant

Board

Director

None

Joined Dow's board in 2020; former CEO of Madison Air; expertise in industrial and healthcare sectors.

Luis Alberto Moreno

Board

Director

Managing Director at Allen & Co LLC; Director at Nu Holdings Ltd.

Joined Dow's board in 2021; former President of the Inter-American Development Bank; expertise in economic development and public policy.

Richard K. Davis

Board

Independent Lead Director

Director at Mastercard and Wells Fargo

Joined Dow's board in 2015; became Lead Director in 2021; brings expertise in corporate governance and financial services.

Samuel R. Allen

Board

Director

Director at Whirlpool Corporation

Joined Dow's board in 2019; former CEO of Deere & Company; expertise in global operations and strategic planning.

Wesley G. Bush

Board

Director

Director at Cisco Systems and General Motors; Board Member at Conservation International

Joined Dow's board in 2018; former CEO of Northrop Grumman; expertise in aerospace, defense, and cybersecurity.

  1. Given the strategic review of select European assets representing about 20% of your EMEA sales in polyurethanes, what specific criteria are you using to decide between divestiture, closure, or other options, and how will these decisions impact your market presence and profitability in Europe?

  2. Considering the persistent lack of competitive regulatory policy and soft demand in Europe, how do you plan to mitigate the potential negative effects on your revenue and market share during the strategic asset review period extending to mid-2025?

  3. You mentioned that higher inventories to support sales growth and labor-related supply chain disruptions led to decreased cash flow from continuing operations; can you elaborate on these disruptions and the steps you're taking to improve inventory management and cash flow?

  4. With the planned shutdown of your propylene oxide unit in Freeport, Texas in 2025 to reduce lower-value merchant exposure, how will this affect your supply chain and ability to meet customer demand, and what strategies are in place to offset this loss of production capacity?

  5. Despite higher planned maintenance activities and lower integrated margins impacting operating EBIT in certain segments, what concrete actions are you taking to enhance operational efficiency and margins, and how confident are you in achieving significant cost savings through these measures?

Research analysts who have asked questions during DOW earnings calls.

Hassan Ahmed

Alembic Global Advisors

6 questions for DOW

Also covers: CC, CE, HUN +7 more

Kevin McCarthy

Vertical Research Partners

6 questions for DOW

Also covers: ALB, ALTM, APD +17 more

Vincent Andrews

Morgan Stanley

6 questions for DOW

Also covers: ALB, AVNT, AXTA +19 more

Matthew Blair

Tudor, Pickering, Holt & Co.

5 questions for DOW

Also covers: AMTX, CE, CLNE +19 more

Michael Sison

Wells Fargo

5 questions for DOW

Also covers: ALB, APD, ASH +15 more

Patrick Cunningham

Citigroup

5 questions for DOW

Also covers: ALB, APD, AXTA +17 more

David Begleiter

Deutsche Bank

4 questions for DOW

Also covers: ALB, APD, ASH +24 more

Frank Mitsch

Fermium Research

4 questions for DOW

Also covers: AVNT, CE, CTVA +12 more

Jeffrey Zekauskas

JPMorgan Chase & Co.

4 questions for DOW

Also covers: ALB, APD, ASH +29 more

Christopher Parkinson

Wolfe Research

3 questions for DOW

Also covers: ALB, APD, ASH +17 more

Duffy Fischer

Goldman Sachs

3 questions for DOW

Also covers: APD, AXTA, CC +7 more

John Ezekiel Roberts

Mizuho Securities

3 questions for DOW

Also covers: ALB, APD, ASH +21 more

Josh Spector

UBS Group

3 questions for DOW

Also covers: ALB, AMBP, APD +24 more

Aleksey Yefremov

KeyBanc Capital Markets

2 questions for DOW

Also covers: ALB, ALTM, AXTA +14 more

Chris Parkinson

Wolfe Research, LLC

2 questions for DOW

Also covers: AXTA, CCK, ECL +3 more

Jeff Stokvis

Morgan Stanley

2 questions for DOW

Joshua Spector

UBS

2 questions for DOW

Also covers: ALB, AMBP, APD +37 more

Matthew Deo

Bank of America

2 questions for DOW

Also covers: ESI

Michael Leithead

Barclays

2 questions for DOW

Also covers: AMBP, APD, AVY +15 more

Steve Byrne

Bank of America

2 questions for DOW

Also covers: ADM, APD, AXTA +19 more

Arun Viswanathan

RBC Capital Markets

1 question for DOW

Also covers: ALB, AMBP, AMCR +23 more

Bhavesh Lodaya

BMO Capital Markets

1 question for DOW

Also covers: ASH, DD, ENTG +3 more

Christopher Perrella

UBS Group AG

1 question for DOW

Also covers: ALB, CBT, LYB +3 more

Duffy Fisher

Goldman Sachs

1 question for DOW

Laurence Alexander

Jefferies

1 question for DOW

Also covers: AIQUY, ALB, APD +26 more

Patrick Fischer

Goldman Sachs

1 question for DOW

Also covers: APD, AXTA, CC +8 more

Richard Garchitorena

Wells Fargo

1 question for DOW

Also covers: CF, CTVA, FMC +2 more
Program DetailsProgram 1
Approval DateApril 13, 2022
End Date/DurationNo expiration date
Total additional amount$3 billion
Remaining authorization amountApproximately $931 million as of September 30, 2024
DetailsPart of a long-term strategy to target shareholder remuneration of approximately 65% over the economic cycle. The company intends to repurchase shares at a minimum to cover dilution, with potential expansion based on macroeconomic conditions, free cash flow, and share price.
YearAmount Due (in millions)Debt TypeInterest Rate% of Total Debt
2024$35 Short-term debtN/A0.21% = (35 / 16,571) * 100
2025$525 Promissory notes and debentures5.63% 3.17% = (525 / 16,571) * 100
2026$131 Long-term debtN/A0.79% = (131 / 16,571) * 100
2027$1,289 Long-term debtN/A7.78% = (1,289 / 16,571) * 100
2028$696 Promissory notes and debentures4.80% 4.20% = (696 / 16,571) * 100
2029$1,457 Promissory notes and debentures7.58% 8.79% = (1,457 / 16,571) * 100
2030+$10,072 Promissory notes and debentures5.11% (average) 60.77% = (10,072 / 16,571) * 100
Various$2,736 Foreign currency notes and loans2.13% (average) 16.51% = (2,736 / 16,571) * 100
2054$644 InterNotes® (varying maturities through 2054)4.26% (average) 3.89% = (644 / 16,571) * 100

Competitors mentioned in the company's latest 10K filing.

CompanyDescription

BASF

Mentioned as a key competitor in the Industrial Solutions and Polyurethanes & Construction Chemicals segments.

Listed as a key competitor in the Industrial Solutions and Polyurethanes & Construction Chemicals segments.

Hexion

Identified as a key competitor in the Industrial Solutions segment.

Recognized as a key competitor in the Industrial Solutions and Polyurethanes & Construction Chemicals segments.

INEOS

Listed as a key competitor in the Industrial Solutions, Hydrocarbons & Energy, and Packaging and Specialty Plastics segments.

Mentioned as a key competitor in the Industrial Solutions, Hydrocarbons & Energy, and Packaging and Specialty Plastics segments.

SABIC

Identified as a key competitor in the Industrial Solutions, Hydrocarbons & Energy, and Packaging and Specialty Plastics segments.

Listed as a key competitor in the Industrial Solutions segment.

Recognized as a key competitor in the Industrial Solutions and Hydrocarbons & Energy segments.

Arkema

Mentioned as a key competitor in the Polyurethanes & Construction Chemicals and Coatings & Performance Monomers segments.

Listed as a key competitor in the Polyurethanes & Construction Chemicals segment.

Covestro

Identified as a key competitor in the Polyurethanes & Construction Chemicals segment.

Wanhua

Recognized as a key competitor in the Polyurethanes & Construction Chemicals segment.

Mentioned as a key competitor in the Coatings & Performance Monomers segment.

Evonik

Listed as a key competitor in the Coatings & Performance Monomers segment.

Wacker Chemie

Identified as a key competitor in the Coatings & Performance Monomers and Consumer Solutions segments.

Elkem

Recognized as a key competitor in the Consumer Solutions segment.

Momentive

Mentioned as a key competitor in the Consumer Solutions segment.

Listed as a key competitor in the Consumer Solutions segment.

Chevron Phillips Chemical

Identified as a key competitor in the Hydrocarbons & Energy segment.

Recognized as a key competitor in the Hydrocarbons & Energy and Packaging and Specialty Plastics segments.

Mentioned as a key competitor in the Hydrocarbons & Energy segment.

Borealis

Listed as a key competitor in the Packaging and Specialty Plastics segment.

Lanxess

Identified as a key competitor in the Packaging and Specialty Plastics segment.

Nova

Recognized as a key competitor in the Packaging and Specialty Plastics segment.

NameStart DateEnd DateReason for Change
Deloitte & Touche LLP1905 PresentCurrent auditor

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

Circulus Holdings, PBLLC

2024

Dow acquired Circulus Holdings, PBLLC for approximately $130 million in cash, with the transaction announced on June 20, 2024 and closed on August 1, 2024. The acquisition, which includes two recycling facilities in Ardmore, Oklahoma and Arab, Alabama (with a combined capacity of 50,000 metric tons per year), supports Dow's 2030 Transform the Waste goal by enhancing its portfolio of high-performance circular products and is expected to contribute $500 million in incremental EBITDA by 2030, with assets including property valued at $74 million, intangible technology and know-how valued at $22 million, and $36 million allocated to goodwill.

Recent press releases and 8-K filings for DOW.

Dow Inc. class action filing deadline reminder
·$DOW
Legal Proceedings
Profit Warning
Dividends
  • Investors who lost >$100,000 purchasing Dow securities between January 30, 2025 and July 23, 2025 have until October 28, 2025 to apply as lead plaintiff in a securities class action.
  • The lawsuit Sarti v. Dow Inc. alleges the company and certain executives failed to disclose material information, violating federal securities laws during the Class Period.
  • On July 24, 2025, Dow reported a 2Q 2025 non-GAAP loss per share of $0.42 (analysts expected a $0.17–0.18 loss) and net sales of $10.1 billion, a 7.3% YoY decline that missed consensus by $130 million, and cut its dividend from $0.70 to $0.35 per share.
  • Shares fell $5.30 (17.45%) to $25.07 on the earnings and dividend news.
6 days ago
Dow Inc. faces class action lawsuit over alleged misstatements
·$DOW
Legal Proceedings
Dividends
Demand Weakening
  • Pomerantz LLP filed a class action against Dow Inc. (NYSE: DOW) and certain officers, claiming violations of Sections 10(b) and 20(a) for misrepresenting its ability to withstand macroeconomic and tariff-related headwinds and support its dividend during January 30–July 23, 2025.
  • The complaint alleges Dow overstated its financial flexibility, understated pricing pressure and market oversupply, and misled investors about risks to its industry-leading dividend.
  • Following a BMO Capital downgrade on June 23, 2025, Dow’s stock fell 3.21% to $26.87 , and on July 24, Dow reported Q2 net sales of $10.1 billion (down 7.3% y/y), cut its dividend in half to $0.35, and saw its share price drop 17.45%.
6 days ago
Dow Inc. faces class action over alleged misleading statements and dividend cut
·$DOW
Legal Proceedings
Dividends
Profit Warning
  • Pomerantz LLP filed a securities class action against Dow Inc. and certain officers, alleging misstatements about Dow’s ability to manage macroeconomic and tariff headwinds while supporting its industry-leading dividend during the Class Period Jan 30–July 23, 2025.
  • Plaintiffs contend Dow overstated its financial flexibility and understated negative impacts from competitive pricing pressures, soft demand, and market oversupply.
  • On June 23, 2025, BMO Capital downgraded Dow to “Underperform,” cutting its price target from $29.00 to $22.00 and triggering a 3.21% stock decline to $26.87.
  • On July 24, 2025, Dow reported Q2 results with a non-GAAP loss per share of $0.42 (versus $0.17–0.18 expected), net sales of $10.1 billion (down 7.3% YOY), and slashed its quarterly dividend from $0.70 to $0.35.
  • After the Q2 report and dividend cut, Dow’s stock fell 17.45% to $25.07; motions for Lead Plaintiff are due by October 28, 2025.
Oct 20, 2025, 3:44 PM
Dow Inc. faces securities class action over dividend statements
·$DOW
Legal Proceedings
Dividends
  • Pomerantz LLP filed a class action in the U.S. District Court for the Eastern District of Michigan on behalf of investors who purchased Dow securities between January 30 and July 23, 2025.
  • Plaintiffs allege Dow and certain officers made materially false and misleading statements overstating the Company’s ability to mitigate macroeconomic and tariff-related headwinds and support its dividend.
  • Investors have until October 28, 2025 to ask the court to appoint them as Lead Plaintiff.
  • The lawsuit asserts violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.
Oct 18, 2025, 2:00 PM
Dow Inc. faces securities class action
·$DOW
Legal Proceedings
Dividends
Profit Warning
  • Pomerantz LLP filed a class action against Dow and certain officers alleging misrepresentations about macro resilience and dividend support covering Jan 30–Jul 23, 2025 under Sections 10(b), 20(a) and Rule 10b-5
  • Plaintiffs contend Dow overstated its ability to mitigate tariff-related headwinds and maintain financial flexibility to support its “industry-leading dividend,” while understating negative impacts from competitive pressures, softening demand, and market oversupply
  • Stock dropped on key corrective disclosures: June 23 downgrade by BMO Capital (–3.21% to $26.87) and July 24 Q2 results (net sales $10.1 billion, non-GAAP loss per share $0.42 vs. $0.17–$0.18 est.) plus dividend cut to $0.35 (–17.45% to $25.07)
Oct 17, 2025, 1:39 PM
Dow Inc. faces class action lawsuit
·$DOW
Legal Proceedings
  • Pomerantz LLP filed a class action in the Eastern District of Michigan (No. 25-cv-12744) accusing Dow Inc. and certain officers of violating Sections 10(b) and 20(a) of the Securities Exchange Act.
  • The proposed class covers investors who purchased Dow securities between January 30, 2025 and July 23, 2025, inclusive.
  • Plaintiffs allege Dow overstated its ability to withstand macroeconomic and tariff-related headwinds and to maintain dividend flexibility by touting its “differentiated portfolio,” “cost-advantaged footprint,” and global trade flexibility.
  • Deadline to seek Lead Plaintiff status is October 28, 2025.
Oct 14, 2025, 8:34 PM
Dow faces securities class action
·$DOW
Legal Proceedings
  • Pomerantz LLP filed a class action (No. 25-cv-12744) against Dow Inc. and certain officers in the U.S. District Court for the Eastern District of Michigan, alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act over misleading statements about Dow’s financial flexibility and dividend policy.
  • The Class Period covers January 30 to July 23, 2025; investors must move by October 28, 2025 to seek appointment as Lead Plaintiff.
  • Plaintiffs contend Dow overstated its ability to navigate macroeconomic and tariff headwinds and to sustain its industry-leading dividend, while understating competitive pressures, softening demand, and product oversupply.
Oct 13, 2025, 6:34 PM
Dow Inc. faces securities class action over dividend and macro commentary
·$DOW
Legal Proceedings
  • Pomerantz LLP filed a class action against Dow Inc. (NYSE: DOW) and certain officers in the U.S. District Court for the Eastern District of Michigan, Northern Division (docket 25-cv-12744), on behalf of investors who purchased Dow securities between January 30 and July 23, 2025.
  • The complaint alleges Dow made false and misleading statements about its ability to mitigate macroeconomic and tariff-related headwinds and to maintain the financial flexibility needed to support its dividend, understating the severity of negative impacts on its business and financial condition.
  • The action seeks to recover damages under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.
  • Investors have until October 28, 2025 to ask the court to be appointed Lead Plaintiff for the class.
Oct 8, 2025, 8:30 PM
Dow faces securities class action over dividend and tariff comments
·$DOW
Legal Proceedings
Dividends
  • Pomerantz LLP filed a class action lawsuit against Dow Inc. (NYSE: DOW) and certain officers under Sections 10(b) and 20(a) of the Securities Exchange Act, covering trades from January 30 to July 23, 2025.
  • The complaint alleges Dow overstated its ability to withstand macroeconomic and tariff-related headwinds and maintain its industry-leading dividend, rendering its public statements materially misleading.
  • The proposed class includes all persons or entities who acquired Dow securities during the Class Period and seeks damages for alleged securities law violations.
  • Interested investors must seek appointment as lead plaintiff by October 28, 2025.
Oct 3, 2025, 2:00 PM
Dow faces class action alleging dividend misrepresentations
·$DOW
Legal Proceedings
Dividends
  • Pomerantz LLP filed a class action against Dow Inc. and certain officers in the U.S. District Court for the Eastern District of Michigan (docket 25-cv-12744), targeting securities purchases from January 30 to July 23, 2025, for alleged securities law violations.
  • The complaint claims defendants overstated Dow’s ability to weather macroeconomic and tariff headwinds and maintain its “industry-leading dividend,” rendering public statements false or misleading.
  • Investors have until October 28, 2025 to move for appointment as Lead Plaintiff in the class action.
Sep 28, 2025, 2:00 PM