Dow raises outlook for first quarter

Dow’s first-quarter earnings before taxes will beat analysts’ forecasts by about $200 million, according to Howard Ungerleider, the firm’s chief financial officer, who provided the update March 17 at a conference sponsored by J.P. Morgan. Ungerleider attributed two-thirds of that amount to Dow’s silicones business, which is benefiting from back integration into silicon metal when metal prices are high. Dow is also seeing strong demand for packaging and construction materials, he said, thanks in part to consumer spending in the US, which should increase 25% this year from prepandemic levels.