- Net sales were $9.5 billion, down 9% year-over-year, with declines in all segments.
- GAAP net loss was $1.5 billion; Op. EBIT was $33 million, down $421 million year-over-year.
- Cash from operations was $298 million, down $513 million year-over-year.
- Packaging & Specialty Plastics net sales were $4.7 billion, down 11% year-over-year.
Financial Performance
Dow reported a 9% year-over-year decline in net sales for Q4 2025, totaling $9.5 billion, with decreases across all operating segments. The GAAP net loss was $1.5 billion, while Operating EBIT fell by $421 million to $33 million, primarily due to price declines and lower operating rates. Cash from operations was $298 million, down $513 million from the previous year.
Segment Highlights
The Packaging & Specialty Plastics segment saw net sales of $4.7 billion, an 11% decrease from the previous year. This was driven by lower downstream polymer prices and reduced merchant olefins sales in EMEAI, following the idling of a cracker in the region. Operating EBIT for this segment was $215 million, down $232 million year-over-year, due to lower integrated margins and operating rates.
Annual Overview
For the full year 2025, Dow's net sales were $40.0 billion. The GAAP net loss was $2.4 billion, a significant drop from a $1.2 billion income in 2024. Operating EBIT was $0.4 billion, down from $2.6 billion the previous year. Cash provided by operating activities was $1.1 billion, compared to $2.9 billion in 2024. Dividends returned to shareholders totaled $1.5 billion for the year.
