Dow’s crop protection sales up 6% in Q3

Date:10-26-2012

Sales of Dow AgroSciences’ Agricultural Sciences segment were $1,302 million, rose by 8% versus the year-ago period in the third quarter of 2012 ended September 30th. EBITDA for this segment was $63 million, slipped by 16% compared with the same period of last year due to continued investments in growth. Sales volume increased 7%, while price rose 1%. Double-digit sales and volume gains were reported in both North America and Latin America. The segment continues to benefit from solid industry fundamentals, with elevated farm income levels providing strong incentive for farmers to maximize yields.

Crop Protection reported sales growth of 6%, driven by significant volume and sales gains in Latin America, as well as continued adoption of new products. Seeds, Traits and Oils reported a 21% sales increase as a result of the introduction and ramp-up of new technologies.
Year to date, new Crop Protection molecules are up 21%, led by spinetoram insecticide, aminopyralid herbicide and pyroxsulam herbicide. Seeds, Traits and Oils has achieved strong growth through the third quarter in key crops, including corn, soybeans, healthy oils, and cotton. Strong customer and channel support fueled gains for SmartStax® corn hybrids.

For the first nine months, sales of Agricultural Sciences segment increased by 11.7% to $4,816 million, and EBITDA rose by 6.9% to $821 million.

Dow’s Agricultural Sciences sales results ($ million)
Q3 ended Sep. 30th	Q3 2012	Q3 2011	%change	Nine months 2012	Nine months 2011	%change
sales	1,302	1,205	+8.0	4,816	4,311	+11.7
EBITDA*	63	75	-16.0	821	768	+6.9
* earnings before interest, tax, depreciation and amortization