Dow Inc. - DOW STOCK NEWS

DOW (NYSE:DOW), the leading materials science company, received an unprecedented nine Edison Awards for 2023, the most by any company in a single year. This marks the sixth consecutive year DOW has won more awards than any other organization, with accolades including 5 gold, 3 silver, and 1 bronze. The awards were presented at a ceremony on April 20 in Fort Myers, Florida, recognizing excellence in innovation and product development across various categories.

DOW’s awarded products included milestones in sustainability, AI optimization, and advanced manufacturing technologies, demonstrating the company’s commitment to delivering impactful innovations while fostering environmental responsibility.

Dow reported a GAAP loss per share of $0.13 and operating earnings of $0.58 for Q1 2023, significantly down from $2.34 a year ago. The net sales fell 22% year-over-year to $11.9 billion, attributed to a 11% volume decrease and a 10% local price decline. Equity losses were $48 million, a stark contrast to $174 million in earnings last year. Operating EBIT was $708 million, down from $2.4 billion in Q1 2022. Cash flow from operations decreased by $1.1 billion year-over-year. Despite these challenges, the company is on track to achieve $1 billion in cost savings by year-end. Dow maintains a strong liquidity position and emphasizes ongoing efforts to enhance its cash generation capabilities.

DOW is enhancing its sustainability efforts by collaborating with suppliers to implement circular business practices aimed at resource conservation, particularly water. Recently, a partnership with Geostick, a label supplier, unveiled a recycling initiative for label backing paper which previously contributed to landfill waste. This collaboration with Cycle4Green and Lenzing Paper allows for recycling into new paper products, significantly reducing the need for virgin raw materials.

Notably, the recycling process saves an estimated 59,455 gallons of water per metric ton and reduces CO₂ emissions by 1.5 metric tons for every 1,000 kilograms of liner recycled. DOW is promoting this model across Europe and North America, illustrating its commitment to driving a circular economy and optimizing limited resources.

DOW announced the launch of its innovative washing technology, EVOWASH™, aimed at enhancing the quality of post-consumer recycled (PCR) plastic resins. This technology addresses challenges in mechanical recycling by improving the cleaning process for recycled plastics, which is crucial for effective contamination removal. EVOWASH™ comprises biodegradable detergents and antifoams that optimize adhesive removal and minimize foam generation during washing. This supports a circular economy by maximizing water reuse and improving recycling rates, thereby aligning with DOW's sustainability goals. The technology has shown to comply with local regulations even in extended discharge cycles.

DOW has implemented a new water recycling initiative at its Kankakee, IL coatings plant, achieving a 30% reduction in annual wastewater generation and a 14% decrease in water consumption. The project saves the company $100,000 annually and enables the plant to recycle its reverse osmosis (RO) reject water, previously wasted. This high-concentration stream is now redirected into the plant's water supply, allowing for efficient manufacturing processes with acceptable water quality. Identified as a best practice, this initiative has been nominated for a Sustainable Environmental Engagement at Dow (SEED) Award and reflects a positive approach to sustainability while enhancing operational efficiency.