Dow and BASF post upbeat results

First-quarter financial results are out from Dow and BASF. And if these two chemical giants are setting the trend for their peers—which are due to report their results over the next several weeks—the industry may be turning the corner after a dismal 2023. Dow's sales fell 9.2% from the year - earlier period, while adjusted earnings slipped 5.1%. Sales and prices were down across all its business. But compared with the fourth quarter of 2023, Dow's sales and earnings were up 1.4% and 28.8%, respectively. A small decline in its core packaging and specialty plastics segment was more than offset by growth in its industrial intermediates and infrastructure business and its performance materials and coatings unit. Excess capacity hit the petrochemical industry hard last year, particularly in high-cost regions such as Europe. But Dow CEO Jim Fitterling was upbeat during his April 25 conference call with analysts. "Most of the