UPDATE 1-Chemicals maker Dow beats second-quarter profit estimates on higher prices

Dow, Inc.

Dow, Inc.

DOW

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July 23 (Reuters) - Chemicals company Dow Inc DOW.N beat Wall Street estimates for second-quarter adjusted profit on Thursday, helped by higher prices and volumes as a result of the Middle East conflict-driven supply shock.

Tensions surrounding the Strait of Hormuz following the escalation of the U.S.-Iran conflict have led to disruptions in oil and petrochemical flows , resulting in a tightening of global chemicals supply and a subsequent increase in prices of plastics and polymer.

Quarterly net sales from Dow's packaging and specialty plastics segment rose 27% to $6.4 billion from a year earlier, driven by higher polyethylene prices in all regions.

The Michigan-based company reported an adjusted profit of $1.44 per share for the quarter ended June 30, compared with analysts' average estimate of a profit of $1.28 per share, according to data compiled by LSEG.


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