20 Companies! Chemical Giants’ 2024 Financial Performance Summary!

As of March 1, global chemical giants—including BASF, Dow, Covestro, Arkema, DuPont, Huntsman, Lanxess, Celanese, Syensqo, Trinseo, INEOS, Honeywell, Clariant, Eastman, SABIC, Chemours, LyondellBasell, ExxonMobil, LG Chem, and Avient—have all released their 2024 financial results. Given market conditions in 2024, several giants announced a series of cost-cutting measures. Specifically: BASF On February 28, BASF released its full-year 2024 financial results. Total sales for 2024 amounted to €65.3 billion (approximately RMB 49.649 billion), down from €68.9 billion in 2023—a decrease of €3.6 billion. EBITDA stood at €6.7 billion, down €500 million year-on-year (€7.2 billion in 2023); EBIT was €2.0 billion, down €206 million; net income reached €1.3 billion, compared to €225 million in 2023—significantly higher than the prior year. By year-end 2024, BASF had incurred approximately €900 million in one-time costs related to its cost-savings program. Dow On January 30, Dow Inc. released its latest financial report: full-year 2024 net sales totaled $43.0 billion, down from $44.6 billion in 2023—a reduction of $1.6 billion; GAAP net income was $1.2 billion, up from $660 million in 2023; operating EBIT was $2.6 billion, down from $2.8 billion in 2023. Operating cash flow from continuing operations amounted to $2.9 billion, down from $5.2 billion in 2023. The report indicated that Dow is implementing measures to cut costs by $1 billion—including eliminating approximately 1,500 positions globally. Covestro On February 26, Covestro released its 2024 fiscal-year results: sales declined 1.4% to €14.2 billion (€14.4 billion in the prior year), primarily due to lower selling prices; EBITDA remained stable, dipping only 0.8% to €1.1 billion—broadly in line with expectations; net profit was -€266 million (vs. -€198 million in the prior year); free operating cash flow stood at €89 million (vs. €232 million in the prior year). In Q4 2024 alone, Covestro’s sales rose 0.9% year-on-year to approximately €3.4 billion; EBITDA surged 44.7% year-on-year to €191 million; free operating cash flow jumped 246.6% year-on-year to €253 million. Arkema On February 28, Arkema released its full-year 2024 results: sales totaled €9.5 billion, stable year-on-year. Volumes rose 2.4%, driven by growth in specialty materials businesses across Asia. EBITDA reached €1.532 billion, with an EBITDA margin of 16.1%—slightly up year-on-year. Recently, Arkema has invested in several major growth initiatives, including the acquisition of PIAM’s polyimide business, the acquisitions of Ashland’s and Dow’s adhesives businesses, and new capacity additions in its Advanced Materials division—targeting attractive markets such as bio-based consumer goods, new energy, electrification, 3D printing, and sports.

Dow’s Q3 2025 Financial Report — October 27, 2025

The stock price has languished for a full year—falling two tiers. Yet it surged 13% following the Q3 2025 earnings release. Has there been any fundamental change? ・ First, revenue remains weak: the Q2 guidance for this quarter was $10.2 billion. ・ Second, GAAP EPS turned positive this quarter solely 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 reductions and capital expenditure cuts have proven effective. Has the chemical industry reached a cyclical downturn inflection point? ・ On the supply side, Dow believes capacity restraint is now underway across all 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 totaling roughly 5 million tons, and China’s [anti-evolution] policies amounting to roughly 7 million tons.” ・ On the demand side, Dow views overall demand as still weak—with no change from last quarter. It hopes interest-rate cuts will stimulate construction starts.

Dow Inc Receives New Buy Recommendation from Wells Fargo

Jun 11, 2026

Wells Fargo maintained a Buy rating on Dow Inc with a $48 price target, aligning with Alembic Global despite Bank of America's Hold. Dow reported $9.79 billion quarterly revenue against a $445 million GAAP net loss.

The Globe and Mail

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Dow Inc (DOW) Gets a Buy from Wells Fargo

Dow Inc Receives New Buy Recommendation from Wells Fargo

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