""Transform to Outperform represents a comprehensive and radical simplification of our operating model""
""This is not just about cost out. This is not just about productivity. But it's also about growth... This is about our entire operation.""
""I think we do expect integrated margins to improve. Even with the weather situations that we've had here, I think the input costs, especially in the Americas, have been very stable.""
Dow's stock surged 40% year-to-date to $32.65 despite a $2.6 billion net loss in 2025. The company launched the Transform to Outperform program targeting $2 billion in additional earnings and announced a global workforce reduction of 4,500 jobs alongside investments in AI and automation. Dow expects about $500 million of value from the program in 2026, with two-thirds from productivity and one-third from growth initiatives. Gross margin fell from 10.4% in 2024 to 6.0% in 2025 while operating margin dropped to 0.7%, and fourth-quarter net losses reached $1.5 billion. Falling WTI crude to $61.60 per barrel has reduced feedstock costs, polyethylene demand remains resilient with record sales, and industry inventories drew down 400.
Read at 24/7 Wall St.
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