Dow swings to Q2 profit, but profit falls short on production woes

08/4/2010 | Reuters · Bloomberg · Detroit News, The

Dow Chemical posted a second-quarter net income of $566 million, compared with last year's $486 million loss for that period. Meanwhile, its revenue, despite a 20% increase to $13.62 billion, fell short of analyst expectations as the company suffered shortfalls from the temporary closures of plants in Texas and Argentina. The company, however, is "guardedly optimistic" about the economy, said Dow CEO Andrew Liveris, and "we continue to have confidence that momentum is gradually building."

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