Shares of Dow Inc. DOW, +0.07% gained 0.2% in premarket trading Thursday, after the materials science company reported fourth-quarter profit and sales that rose above expectations, and said it expects supply chain pressures to ease through the year. Net income rose to $1.74 billion, or $2.32 a share, from $1.24 billion, or $1.65 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share was $2.15, above the FactSet consensus of $2.03. Sales grew 34.2% to $14.36 billion, outpacing the 28.9% rise in cost of sales to $11.78 billion. Local price increased 39% from a year ago. Among Dow’s business segments, packaging and specialty plastics sales jumped 40.2% to $7.19 billion, industrial intermediates and infrastructure sales increased 29.9% to $4.55 billion and performance materials and coatings sales grew 26.1% to $2.56 billion. “Underlying demand strength and continued operating discipline enabled us to overcome supply and logistics constraints as well as higher raw material and energy costs,” said Chief Executive Jim Fitterling. The stock has gained 2.2% over the past three months through Wednesday, while the Dow Jones Industrial Average DJIA, -0.38% has lost 3.7%.
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