Dow Chemical Co. (NYSE: DOW) reported Wednesday that its second-quarter profit jumped to $1.07 billion, or 84 cents a share, from $659 million, or 50 cents a share, in the year-earlier quarter. On an adjusted basis, the company earned 85 cents a share in the latest quarter. Revenue climbed 18% to $16.05 billion. Analysts, on average, expected the company report earnings of 79 cents a share on revenue of $14.74 billion.
"This marked another quarter of tremendous progress for Dow," said Andrew N. Liveris, Dow's chairman and chief executive officer. "We delivered significant and broad-based top-line growth, and reached a new quarterly sales record in emerging geographies. The performance of our diverse and balanced portfolio once again overcame continuing headwinds in certain sectors. More importantly, we remain firmly on the trajectory to reach our near-term earnings targets, as evidenced by EBITDA growth of nearly 25 percent -- up in every operating segment -- as well as overall margin expansion for the Company. Further, our year-over-year EPS growth and our EBITDA run-rate of $9 billion are approaching our near-term target.
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