Dow Inc unveiled on Thursday in its financial report for the third quarter of fiscal 2020 that its net sales landed at $9.7 billion after a 10% plummet compared to the same period a year prior. The company also noted that net sales improved by 16% compared to the second quarter of 2020.
Dow's quarterly net loss was $1 million compared to the net income of $347 million seen in the third quarter of 2019, while its diluted loss per share stood at $0.04 as opposed to earnings per share of $0.45 recorded in the same three-month period last year.
"The Dow team delivered improved sequential results well above second quarter lows and robust operating cash flow in line with the year-ago period, enabled by rebounding demand and the early actions we took to focus on cash, reduce expenses and pay down debt. We increased our operating rates to match rising demand as the recovery gained momentum," Dow CEO Jim Fitterling asserted in a statement.
