Dow profit doubles on higher prices

FILE PHOTO: A Dow sign is seen at the third China International Import Expo (CIIE) in Shanghai, China November 5, 2020. REUTERS/Aly Song

(Reuters) – Dow Inc on Thursday said its second-quarter profit doubled from the first, as prices for its chemicals used in plastics and packaging rose on the back of strong consumer and industrial demand as well as lower inventories.

Net operating income, which excludes certain items, rose to $2.06 billion, or $2.72 per share, in the three months ended June 30, from $1.02 billion, or $1.36 per share, in the first quarter.

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