Dow (DOW) Q4 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Thu, January 29, 2026 astatine 8:40 AM CST 48 min read

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Thursday, January 29, 2026 astatine 8 a.m. ET

• Chair and Chief Executive Officer — James R. Fitterling

• Chief Operating Officer — Karen S. Carter

• Chief Financial Officer — Jeffrey L. Tate

• Vice President, Investor Relations — Andrew Riker

Andrew Riker: Good morning. Thank you for joining today. The accompanying slides are provided done this webcast and posted connected our website. I'm Andrew Riker, Dow's Investor Relations Vice President. Leading today's telephone are James R. Fitterling, Chair and Chief Executive Officer, Karen S. Carter, Chief Operating Officer, and Jeffrey L. Tate, Chief Financial Officer. Please enactment our comments incorporate forward-looking statements and are taxable to the related cautionary connection contained successful the net quality merchandise and slides. Please notation to our nationalist filings for further accusation astir main risks and uncertainties. Unless different specified, each financials wherever applicable exclude important items. We volition besides notation to non-GAAP measures.

A reconciliation of the astir straight comparable GAAP fiscal measurement and different associated disclosures are contained successful the net quality merchandise that is posted connected our website. On Slide 2 is our docket for today's call. Jim volition reappraisal our 4th fourth and full-year results, Karen volition supply an overview of our operating conception performance, and Jeff volition stock immoderate details connected the macroeconomic situation and our modeling guidance for the archetypal quarter. We volition besides supply updates connected respective of our strategical priorities, including the transformational enactment that we announced earlier today, an update connected our Alberta project, and respective of our in-flight actions that purpose to supply near-term currency enactment and guarantee we support our fiscal flexibility.

Following that, we volition instrumentality your questions. Now fto maine crook the telephone implicit to Jim.

James R. Fitterling: Thank you, Andrew. Beginning connected descent three, Team Dow continued to execute with subject during a twelvemonth marked by persistent macroeconomic challenges, commercialized and argumentation volatility, arsenic good arsenic anticompetitive behaviors by definite manufacture players. In the look of outer pressures, we managed what was wrong our control. Our 4th fourth operating EBITDA was $741 million, reflecting an expected sequential diminution from little seasonal request and emblematic borderline compression crossed galore extremity markets. Looking crossed 2025, we accomplished respective impactful adjacent and longer-term milestones each portion the marketplace wasn't providing galore tailwinds.