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Dow’s agchem sales flats in Q3 2014

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Dow’s agricultural Sciences reported third quarter sales of $1.4 billion, flat versus the year-ago period. On a nine-month basis, the segment reported record sales of $5.4 billion, with a slight increase of 1.3%.

The segment reported EBITDA of $5 million, down from $18 million in the same quarter last year. Third quarter EBITDA margins reflect the impact of softer market conditions in a seasonally weak quarter weighing down Crop Protection results, coupled with increased spending on growth initiatives.

Crop Protection sales declined 1% versus the same quarter last year, due to softening market conditions in North America. From nine-month, sales of new crop protection products were up 18%, led by Isoclast™ insecticide.

Seeds delivered 5% sales gains versus the year-ago period, representing a record third quarter, led by soybeans and sunflower growth in North America and Latin America.

Dow’s Agricultural Sciences sales results ($ million)
Ended Sep 30^th	Q3 2014	Q3 2013	% changes	Nine-month 2014	Nine-month 2013	% changes
Sales	1,408	1,410	-0.1	5,434	5,363	+1.3
EBITDA*	5	18	-72.2	815	792	+2.9
*earnings before interest, tax, depreciation and amortization