BUZZ-Street View: Brokerages cut PT on Dow after Q4 profit miss
Chemical company Dow DOW.N missed fourth-quarter profit estimates on Thursday, hurt by lower demand in Europe
Company reported break-even earnings per share in the quarter, below expectations of 24 cents per share - data compiled by LSEG
EXPECT NEAR-TERM WEAKNESS
BofA ("Buy") cuts PT to $44 from $47, says 1Q25 guidance highlights that demand conditions remain poor while elevated feedstock costs are an additional, and more recent, headwind
"We believe that the weak Q1 earnings forecast could lead to a broad revision of 2025 core profit expectations closer to 2024 levels" - brokerage
RBC Capital Markets ("Sector Perform") cuts PT to $38 from $41, says while Dow posted somewhat stronger-than-consensus Q4, its 1Q25 outlook is pointing to headwinds from downtime and margin pressure from higher feedstock and energy costs
J.P. Morgan ("Overweight") cuts PT to $40 from $47, says due to the petrochemical oversupply, it would not be surprised to see Dow shutting high-cost capacity in Europe to cushion the effect of its low-cost additions
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