Dow Inc. Q3 2025 Earnings Report (October 27, 2025)

The stock price has remained depressed for a full year—plummeting two tiers lower. Yet it surged 13% following the Q3 2025 earnings release. Has there been any fundamental change? ・ First, revenue came in weak: the Q2 guidance for this quarter was $10.2 billion. ・ Second, GAAP EPS turned positive only due to two non-recurring items; operating profit failed to cover interest expenses. ・ On the positive side, the loss was narrower than expected—the company’s cost-cutting and capital expenditure reductions have proven effective. Has the chemical industry reached its downward inflection point? ・ On the supply side, Dow believes capacity restraint is now underway across all major regions—including China: “We’ve got speculation on the closures of about 13 million metric tons—from a combination of additional capacity in Asia, Japan and Korea to the tune of about 5 million tons, and China from the [anti-evolution] policies to the tune of about 7 million tons.” ・ On the demand side, Dow sees overall demand remaining weak—unchanged from last quarter—and hopes rate cuts will stimulate construction starts.

U.S. Stock Watch Log: Dow Chemical (DOW)

1. Leading global chemical industrial enterprise: ranked #2 worldwide. 2. Dividend yield: 5.43%; dividends paid quarterly (four times per year). 3. Current market capitalization: $37 billion. 4. Stock price trend