Dow reported a net sales decline of 2% year-over-year in the fourth quarter of 2024, totaling $10.4 billion, primarily due to weaker results in Packaging & Specialty Plastics. Volume increased by 1% compared to the prior year but declined 1% sequentially due to seasonal trends. Local pricing fell 3% year-over-year and sequentially across all segments.

GAAP net loss for the quarter was $35 million, or $0.08 per share, with operating earnings per share at $0.00. Operating EBIT was $454 million, down $105 million from the prior year, mainly due to lower prices. Cash provided by operating activities was $811 million, a significant drop from the prior year due to reduced working capital benefits. The company returned $492 million to shareholders in dividends during the quarter.

For the full year 2024, net sales totaled $43.0 billion, down from $44.6 billion in 2023. GAAP net income was $1.2 billion, up from $660 million the previous year. Operating EBIT stood at $2.6 billion, a slight decline from 2023, while cash from operating activities dropped to $2.9 billion from $5.2 billion. Total shareholder returns reached $2.5 billion, including $2 billion in dividends and $0.5 billion in share repurchases.

In segment performance, Packaging & Specialty Plastics sales fell 6% year-over-year, driven by lower polyethylene and functional polymer prices. Industrial Intermediates & Infrastructure revenue remained flat, while Performance Materials & Coatings saw a 4% sales increase due to higher volumes.

Looking ahead, Dow plans $1 billion in cost reductions and a $300–500 million cut in 2025 capital expenditures while maintaining its strategic priorities. The company remains focused on growth in packaging, energy, and electronics markets.