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Dow’s agchem sales flats in Q3 2014
Oct. 24, 2014
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 $18 million in the same quarter last year. Third quarter EBITDA margins reflect the impact of softer market conditions in a seasonally weak quarter weighing down Crop Protection results, coupled with increased spending on growth initiatives.
Crop Protection sales declined 1% versus the same quarter last year, due to softening market conditions in North America. From nine-month, sales of new crop protection products were up 18%, led by Isoclast™ insecticide.
Seeds delivered 5% sales gains versus the year-ago period, representing a record third quarter, led by soybeans and sunflower growth in North America and Latin America.
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Dow’s Agricultural Sciences sales results ($ million)
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Ended Sep 30th
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Q3 2014
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Q3 2013
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% changes
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Nine-month 2014
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Nine-month 2013
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% changes
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Sales
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1,408
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1,410
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-0.1
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5,434
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5,363
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+1.3
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EBITDA*
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5
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18
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-72.2
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815
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792
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+2.9
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*earnings before interest, tax, depreciation and amortization
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