Dow Agricultural Sciences reports double-digit declines in sales, earnings in first quarter

Dow Agricultural Sciences on Friday reported double-digit declines in first-quarter sales and earnings due to price and currency challenges in most regions, decreased product demand, and a later start to the European growing season.

First-quarter sales decreased 12 percent, from $2.12 billion a year earlier to $1.86 billion, and earnings dropped more than 19 percent, from $506 million in the first three months of 2014 to $409 million.

Crop protection sales were down 11 percent due to negative currency impact and global volume declines. First quarter seed sales decreased 14 percent as acreage was switched from corn to soybeans in North America and Latin America.

Higher crop yields and inventories coming into the planting season are also lowering crop commodity prices, leading to a lower forecast for planted acreage of corn across the Americas.

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Dow AgroSciences

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