(Reuters) -Dow Inc on Thursday posted a more than five-fold jump in third-quarter profit, aided by higher prices for chemicals as economies recover from the pandemic blow and tight supplies after Hurricane Ida.
A rebound in industrial and automotive activity has spurred a rise in demand for Dow’s chemicals, which is used in everything from plastic and food packaging to textiles, electronics and paints.
Dow, established after chemical conglomerate DowDuPont split into three, said overall prices climbed 50% from a year earlier, while volumes rose 2%.
Net operating income, which excludes certain items, rose to $2.07 billion, or $2.75 per share, in the three months ended Sept. 30, from $376 million, or 50 cents per share, year earlier.
(Reporting by Rithika Krishna in Bengaluru; Editing by Sriraj Kalluvila)
