Filing Flows › DOW (DOW) › Q1 2026
DOW (DOW) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 24, 2026
DOW (DOW) reported revenue of $9.8B for the first quarter 2026 (Q1 2026), -6% from a year earlier and +4% from the quarter before. Operating margin was -4.0%, net loss $445M (4.5% of revenue).
DOW, Q1 2026: revenue $9.8B (-6% year over year), operating margin -4.0%, net loss $445M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.8B | +4% | -6% |
| Operating profit | −$390M | — | — |
| Net earnings | −$445M | — | — |
| Operating cash flow | $1.1B | +296% | 12× |
| Free cash flow | $621M | — | — |
What changed
Revenue was $9.8B in Q1 2026, down 6% year over year and up 4% from the previous quarter. Packaging & Specialty Plastics was the largest line at 50% of revenue. Packaging & Specialty Plastics lost $0.39B year over year (down 7%), 61% of the total change.
Operating costs exceeded revenue by $0.39B, an operating margin of -4.0%. Total costs fell 6% while revenue fell 6%. The fastest-growing cost line was SG&A (+14%). The quarter ended with a net loss of $0.45B, narrower than the previous quarter's $1.5B loss.
Operating cash flow was $1.1B (up 1135% year over year). Non-cash charges added back $0.72B of depreciation and amortization. Working capital and other items added $0.85B. Capital expenditures of $0.50B left free cash flow of $0.62B.
Questions
What was DOW's revenue in the first quarter 2026?
DOW (DOW) reported revenue of $9.8B for the first quarter 2026 (Q1 2026), -6% from a year earlier and +4% from the quarter before.
Was DOW profitable in the first quarter 2026?
Operating loss was $390M (-4.0% of revenue) and net loss $445M.
Source: DOW 10-Q on SEC EDGAR.