(Reuters) – Chemical company Dow beat third-quarter profit estimates on Thursday, helped by higher demand in the U.S. and Canada for certain industrial items such as polyethylene used in packaging.
Quarterly net sales from its packaging and specialty plastics segment, its largest by revenue, rose to $5.52 billion, compared with $5.45 billion from a year ago.
The company said the rise was “led by higher polyethylene sales primarily for industrial, consumer, and flexible food packaging in EMEAI and the U.S. & Canada”.
Dow’s adjusted profit of 47 cents per share exceeded market expectations by a cent, according to data compiled by LSEG.
(Reporting by Tanay Dhumal in Bengaluru; Editing by Arun Koyyur)