Chemicals company DowDuPont has reported at increase of GAAP net sales of 23% in Q3 2017. Pro forma net sales increased to US$18.3 billion, up 8% versus the same period in 2016, led by gains in the materials science segments industrial intermediates and infrastructure (16%), packaging and specialty plastics and performance materials and coatings (8% each), and the specialty products segments transportation and advanced polymers (9%) and safety and construction (6%). Sales rose double-digits in Europe, Middle East and Africa (EMEA) (16%) and in Asia Pacific (10%). Sales in North America grew 4%, while sales in Latin America declined driven by weakness in Agriculture due to expected lower corn area and a delayed start to the summer season in Brazil.
We delivered top and bottom-line growth in the third quarter – a solid start for our newly-formed company,’ said Ed Breen, chief executive officer of DowDuPont. ‘Our operating earnings increase was the result of broad-based demand growth in most of our core end-markets and disciplined margin management, which more than offset several headwinds, from multiple hurricanes to higher feedstock costs and a delayed start to the summer agriculture season in Brazil. Moreover, we delivered these results while advancing several value-creating initiatives, including: closing the merger, completing our comprehensive portfolio review, and defining the new synergy targets for each division.
This story is reprinted from material from DowDuPont, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.