Beyond Europe, Dow Chemical likely saw 1Q growth

AP News
Posted: Apr 26, 2012 3:01 AM
Beyond Europe, Dow Chemical likely saw 1Q growth

Investors will be looking at Dow Chemical Co.'s results this morning for clues to how the global economy is faring outside of Europe, which they know is bad.

The Midland, Mich., company's is closing four plants and idling operations at a fifth plant because of the economic slowdown in Europe. As a result, it will report a $350 million charge with its results this morning.

Some of that weakness should be offset by better sales in North America and the Asia Pacific region.

The manufacturing giant produces basic materials used in an array of products from televisions and toys.

Excluding the charge, analysts expect Dow Chemical to report earnings of 59 cents per share on revenue of $14.96 billion, according to FactSet.