DOW Attains 8th ISCC PLUS for Polyurethanes Plants in Europe
Dow Inc. DOW has announced the eighth International Sustainability and Carbon Certification (ISCC) PLUS accreditation of polyurethanes plants in Europe, which was attained at the Correggio plant in Italy.
As Dow continues to manufacture products using circular and bio-circular feedstocks, this ISCC independent certification method qualifies the tracking of alternative feedstocks using the mass balance approach.
The ISCC PLUS certification is an additional move toward more circular goods for polyurethane end markets, allowing customers to develop solutions that are verifiably circular or bio-circular without compromising quality.
Eight plants across six Dow sites in Italy, Germany and the Netherlands that deal with raw materials for polyurethanes have successfully attained this prestigious third-party certification. The solutions derived from a more sustainable feedstock will be applied in a variety of end-use industries, such as the automobile, building, appliance and sports surface industries. Dow advances toward its aim of obtaining clearance for all of its polyurethanes, chlor-alkali vinyl, propylene oxide and propylene glycol sites in Europe and other global regions.
Shares of DOW have gained 12.1% over the past year compared with a 12.7% rise of its industry.
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Dow remains focused on cost-savings actions and will continue to advance its longer-term strategic priorities as it faces a challenging macroeconomic environment in the second half of 2023. It is making progress with its actions to deliver $1 billion in cost savings in 2023. Its disciplined and balanced capital allocation priorities are supporting its “Decarbonize and Grow” strategy to deliver long-term value creation for its shareholders, the company noted.
The company expects net sales in the band of roughly $10.25-$10.75 billion for the third quarter.
Dow Inc. Price and Consensus
Dow Inc. price-consensus-chart | Dow Inc. Quote
Zacks Rank & Key Picks
DOW currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Denison Mine Corp. DNN and Veritiv Corporation VRTV.
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). The stock has rallied roughly 97.2% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Denison Mines currently carries a Zacks Rank #1. The stock has gained roughly 6% in the past year. DNN beat the Zacks Consensus Estimate in three of the last four quarters while meeting once. It delivered a trailing four-quarter earnings surprise of 75%, on average.
Veritiv currently carries a Zacks Rank #2. The stock has rallied roughly 46.1% in the past year. VRTV beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6%, on average.
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