DowDupont chemical giant recorded lower sales and profits in the first quarter. In particular, the lower performance of the Materials division, which makes plastic and packaging products, applied pressure on the financial result. The bad weather in the United States played a role in this.
Revenues for the first months of 2019 amounted to $ 19.6 billion. That is a decrease of 9 percent compared to a year earlier. DowDupont was forced to give discounts on coatings in the United States and Europe, among others. The delivery of the products was delayed due to the bad weather. The agricultural division of the chemical company was also affected by, for example, flooding in the US.
$ 600 million remained in total. In the first three months of 2018, that was twice as much. The American concern came up twice with a profit alarm in the last two months.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.