DOW Launches SURLYN Grades for Perfume & Cosmetic Packaging
Dow Inc. DOW recently announced the official launch of two new sustainable ionomer grades, SURLYN REN and SURLYN CIR, which pioneer the use of renewable and circular feedstocks. These new grades represent a significant step in creating sustainable packaging for the cosmetics industry. The new SURLYN grades will let beauty firms and manufacturers develop high-quality, sustainable cosmetic packaging that stands out on store shelves.
SURLYN CIR ionomers are made from mixed plastic waste, while SURLYN REN ionomers are made from bio-waste, such as used cooking oil. Both grades produced with these alternate feedstocks maintain the qualities that give the SURLYN material its distinct look, feel and performance.
Following the brand's announced partnership with Dow earlier this year, LVMH Beauty, a division of luxury giant LVMH, the leader in luxury and home to 75 renowned brands, will be the first user of these new grades. The new environmentally friendly SURLYN ionomer grades, which will be incorporated into a number of the multinational's applications, are now being supplied by Dow.
Shares of DOW have gained 12.3% over the past year compared with a 2.6% rise of its industry.
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Dow, on its second-quarter call, said that it 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 expects net sales in the band of $10.25-$10.75 billion for the third quarter.
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, The Andersons Inc. ANDE and Hawkins Inc. HWKN.
Carpenter Technology currently carries a Zacks Rank #2 (Buy). The stock has rallied roughly 79.8% 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 (Strong Buy) stocks here.
Andersons currently carries a Zacks Rank #2. The stock has gained roughly 50.6% in the past year. ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average.
Hawkins currently carries a Zacks Rank #1. The stock has rallied roughly 49.1% in the past year. HWKN beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 25.6%, on average.
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