Dow's sales decreased year-over-year

On October 27, Dow released its financial report that in the third quarter, Dow's net sales were $14.
1 billion, down 5% year-on-year, and the sales of functional materials and coatings operations did not rise as well as industrial intermediates and infrastructure, packaging and specialty plastics operations
.
Sales decreased 10% sequentially from the prior quarter, with declines
in all operating segments and regions.

Regionally, sales in Europe, the Middle East, Africa, and India decreased by 12%, while sales in the U.
S.
, Canada, and Asia Pacific increased by 2%.

In the third quarter, Dow's operating EBIT was $1.
2 billion, down from $2.
9 billion in the year-ago quarter.

On a GAAP basis, Dow reported third-quarter earnings of $1.
02 and operating earnings per share of $1.
11, down from $2.
75 per share in the year-ago quarter and $2.
31 per share in the second quarter of this year, reflecting higher energy costs squeezed by margins in the EMEA and India regions
.