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DOW · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 19.7% y/y to $12.09B, operating margin 7.3% vs −6.0%, net income $721M.
Net income (loss) available for Dow Inc. common stockholders
$721M
Net sales
$12,092M
up 19.7% y/y
Operating income (calculated)
$882M
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net sales | $12,092 · +19.7% |
| Cost of sales | $9,925 · +4.2% |
| Research and development expenses | $207 · +10.1% |
| Selling, general and administrative expenses | $535 · +54.2% |
| Amortization of intangibles | $40 · −36.5% |
| Restructuring and asset related charges - net | $503 · −14.9% |
| Operating income (calculated) | $882 · vs −$606 · 7.3% margin |
| Equity in earnings (losses) of nonconsolidated affiliates | $36 · vs −$30 |
| Sundry income (expense) - net | $125 · −15.0% |
| Interest income | $38 · −2.6% |
| Interest expense and amortization of debt discount | $210 · +0.5% |
| Income (loss) before income taxes | $871 · vs −$659 |
| Provision for income taxes | $69 · −51.4% · 7.9% effective rate |
| Net income attributable to noncontrolling interests | $81 · +138% |
| Net income (loss) available for Dow Inc. common stockholders | $721 · vs −$835 · $0.99/sh · 6.0% margin |
Verdict: revenue grew 19.7% y/y to $12.09B, operating margin 7.3% vs −6.0%, net income $721M.
Source and notation
Source: Dow press release, 8-K EX-99.1 of 07/23/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against the company's 10-Q. Operating income is calculated (revenue less costs and operating expenses): the release does not report it.
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<figure> <a href="https://whoreportstoday.com/t/dow/q2-2026"><img src="https://whoreportstoday.com/t/dow/q2-2026/sankey.png" alt="DOW Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/dow/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/dow/q2-2026">DOW Q2 2026 earnings chart (Who Reports Today)</a>
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- Operating income was $882M, a 7.3% margin vs −6.0% a year earlier.
- Diluted EPS was $0.99 vs −$1.18 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
DOW — an American materials science and chemicals company that makes plastics, chemical intermediates, silicones and coatings ingredients for packaging, infrastructure, consumer goods and other industrial markets worldwide.
It earns money in three operating segments: Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings. · Source: annual report (Form 10-K, SEC)
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