Core Insights - Dow Inc. is facing significant challenges due to uncertainty around tariffs and difficult industry conditions, leading to a 50% cut in its quarterly dividend [1][4][8] Financial Performance - In Q2 2025, Dow reported a loss of $0.42 per share, missing the Zacks Consensus by $0.31, which represents a miss of 282% [2][8] - Net sales decreased by 7% year-over-year to $10.1 billion, with declines across all operating segments, and a sequential decline of 3% [2][3] - Volumes fell by 1%, with gains in the US and Canada offset by declines in India, the Middle East, Africa, and Europe [3] - Cash from operating activities was negative $470 million, down $1.3 billion year-over-year due to lower earnings from margin compression [3] Dividend and Shareholder Returns - The Board of Directors declared a quarterly dividend of $0.35 per share, a reduction of 50% in response to the prolonged industry downturn, which would yield 5.5% annually if maintained [4][5] - This marks the 456th consecutive dividend payment since 1912, showcasing a long-standing commitment to returning value to shareholders [5] Analyst Sentiment - Analysts have become increasingly bearish on Dow's prospects for 2025 and 2026, with earnings estimates cut significantly [6] - The Zacks Consensus for 2025 earnings has been revised down to $0.24 from $0.38, indicating an 86% decline compared to the previous year's earnings of $1.71 [6] Stock Performance - Dow's shares have reached 1-year and 5-year lows, reflecting ongoing investor concerns amid the challenging macroeconomic environment [8][10] - The stock is not considered cheap, trading at a forward P/E of 107 and a PEG ratio of 11.3, indicating a lack of value based on traditional metrics [12]

Core Insights - Dow Inc. reported first-quarter 2025 earnings that exceeded analysts' expectations, with adjusted EPS of $0.02 compared to an expected loss of $0.01, although revenue declined 3% year over year to $10.4 billion [1][2][5] Financial Performance - Adjusted EPS for Q1 2025 was $0.02, down 96.4% from $0.56 in Q1 2024 [3] - Revenue for Q1 2025 was $10.43 billion, slightly above the forecast of $10.24 billion but down 3.1% from $10.77 billion in Q1 2024 [3] - Net income for Q1 2025 was a loss of $290 million, compared to a profit of $538 million in Q1 2024 [3] - Adjusted operating EBIT fell to $230 million, a 66% decrease from $674 million in Q1 2024 [3] Business Overview - Dow operates in the materials science industry with a presence in 30 countries, focusing on segments like Packaging & Specialty Plastics, Performance Materials & Coatings, and Industrial Intermediates & Infrastructure [4] - The company emphasizes innovation and sustainability, targeting high-growth markets such as packaging and mobility [4] Segment Performance - The Packaging & Specialty Plastics segment experienced a 2% revenue drop, despite a 4% increase in volume due to higher licensing and hydrocarbon sales [6] - Industrial Intermediates & Infrastructure faced a 5% revenue decline and reported an operating EBIT loss of $128 million, primarily due to high energy costs [6] - Performance Materials & Coatings saw a 4% sales drop but achieved an $8 million operating EBIT improvement through reduced fixed costs [6] Strategic Initiatives - Dow has delayed its Path2Zero ethylene complex project in Alberta, Canada, to align spending with market conditions and has initiated cost-saving measures contributing approximately $6 billion in total cash support [7] - The company completed the sale of its flexible packaging laminating adhesive business to Arkema, marking a strategic optimization of its asset base [8] Future Outlook - Dow plans to continue its disciplined execution strategy and expand strategic partnerships while enhancing its focus on sustainable solutions [9] - The company aims to navigate pricing strategies, geopolitical factors, and sustainability advancements to strengthen its competitive position [9]

近日，扬子晚报/紫牛新闻记者从东南大学了解到，物理学院博士生王子文随导师获得了"理论预测铁性物理新分支-变铁性"年度江苏省行业领域十大科技 进展(基础研究领域)，作为物理学院博士生第一党支部副书记，王子文曾获首届国家自然科学基金青年学生项目资助、江苏省行业领域十大科技进展-(基 础研究领域)、研究生国家奖学金等各类奖项。科研路上难免遇到风雨，王子文说"坚持不懈，主动作为，一定会收获彩虹。" 当年，董帅教授的一场讲座给这位青年埋下了科学研究的种子；如今，身为学院物理学科普志愿者，王子文将自己所学的物理学专业知识结合实验仪器演 示，向前来参观的中小学生展示并解释其中的科学奥秘。"我不仅是研究生，更是一名党员。一位党员就是一面旗帜，做好志愿讲解本身就是一种锻炼， 也很高兴通过我的讲解能让更多的人感受到科学的魅力。" 扬子晚报/紫牛新闻记者王赟 王子文与导师董帅 王子文想："如何调节这一矛盾，实现利用电场来调控磁性？既然传统路径难以兼容，何不另辟蹊径实现磁电的分离调控？"在导师的启发下，王子文系统 查阅了大量文献和结构数据，从最基础的对称性原理到电子结构设计，从三维材料到二维体系，不断构建模型、仿真计算、分析失败原因 ...