Dow posts $1.5 billion fourth-quarter net loss as net sales fall 9%
Dow reported a fourth-quarter 2025 GAAP net loss of $1.5 billion, or $2.15 per share, on net sales of $9.5 billion, down 9% from a year earlier, with declines in all operating segments. Operating EBIT was $33 million, down $421 million year-over-year, driven by price declines and lower operating rates, and the GAAP loss included impairment and pension settlement charges. For shareholders, the results show a sharp drop in profitability for the quarter and full year, and the company said its Transform to Outperform program is expected to provide at least $2 billion in additional near-term earnings.
Key points
- Q4 2025 net sales were $9.5 billion, down 9% year-over-year and down 5% sequentially.
- GAAP loss per share was $2.15; operating loss per share was $0.34, versus $0.00 a year earlier.
- Full-year 2025 GAAP net loss was $2.4 billion, compared with net income of $1.2 billion in 2024.
- Fourth-quarter dividends totaled $251 million; the company expects Transform to Outperform to provide at least $2 billion in additional near-term earnings.
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 29, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.