DOW Offers Two New Propylene Glycol Solutions in North America
Dow Inc. DOW has announced the launch of two new sustainable propylene glycol ("PG") solutions in North America, using bio-circular and circular feedstock. Companies may now offer high-performance products with externally certified sustainability benefits, making them suitable for a wide range of applications due to a mass balance method.
The mass balance approach traces the flow of bio-circular and circular materials required to create PG via complex value chains and attributes it using verifiable bookkeeping. This approach was recently certified by ISCC PLUS in Freeport, TX.
The Dow PG production facility in North America obtained an ISCC PLUS accreditation for the first time with this notable achievement. The need for circular and bio-circular materials for polyurethane end markets is growing, and by utilizing such innovative recycling methods, the company can now provide its clients with the same high-quality goods while also boosting sustainability.
Shares of DOW have gained 10.3% over the past year against its industry’s 4% decline.
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Moving ahead, Dow said that it will maintain its commitment to financial and operational discipline as it navigates dynamic market conditions in 2024. The company anticipates the weakness in industrial and durable goods demand to continue in the first quarter of 2024.
However, Dow is seeing early positive signs in areas such as construction, automotive and consumer electronics. DOW also remains committed to its disciplined and balanced capital allocation priorities. Moreover, the company is advancing its Decarbonize and Grow and Transform the Waste strategies, which are expected to deliver more than $3 billion in underlying earnings annually by 2030.
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).
Some better-ranked stocks in the basic materials space are Denison Mines Corp. DNN, Carpenter Technology Corporation CRS and Hawkins, Inc. HWKN.
Denison Mines sports a Zacks Rank #1 (Strong Buy), at present. DNN beat the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 300%. The company’s shares have soared 96.9% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology currently sports a Zacks Rank of 1. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, the average earnings surprise being 12.2%. The company’s shares have soared 64.8% in the past year.
The Zacks Consensus Estimate for Hawkins’ current fiscal year earnings is pegged at $3.61 per share, indicating a year-over-year rise of 26.2%. The consensus estimate for HWKN’s current-year earnings has been revised 4.3% upward in the past 30 days. HWKN, carrying a current Zacks Rank #2 (Buy), beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have rallied roughly 77.5% in the past year.
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