Dow reported a fourth‑quarter 2025 net loss of USD 1.5 billion on net sales of USD 9.5 billion, down 9% year‑on‑year, as lower prices, weaker operating rates, and heavy restructuring charges more than offset early savings from its cost‑reduction programme. Full‑year 2025 net sales fell 7% to USD 40.0 billion, and the company swung to a net loss of USD 2.4 billion from net income of USD 1.2 billion in 2024, while operating earnings before interest and taxes (EBIT) slumped to USD 0.4 billion from USD 2.6 billion, underscoring the severity of the current down‑cycle in chemicals and materials. Earnings snapshot and cash flow Fourth‑quarter volume declined 2% versus a year earlier, led by Packaging & Specialty Plastics as Dow curtailed merchant olefins sales in Europe, the Middle East, Africa, and India (EMEAI) following the earlier idling of a cracker in the region, while local prices fell 8% year‑on‑year and 3% compared with the previous quarter. Operating EBIT was USD 33 million, down USD 421 million from the prior‑year…

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