Filing Flows › DOW (DOW) › Q2 2026
DOW (DOW) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 24, 2026
DOW (DOW) reported revenue of $12.1B for the second quarter 2026 (Q2 2026), +20% from a year earlier and +23% from the quarter before. Operating margin was 7.2%, net earnings $721M (6.0% of revenue).
DOW, Q2 2026: revenue $12.1B (+20% year over year), operating margin 7.2%, net earnings $721M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.1B | +23% | +20% |
| Operating profit | $871M | — | — |
| Net earnings | $721M | — | — |
| Operating cash flow | $1.3B | +18% | — |
| Free cash flow | $1.3B | +110% | — |
What changed
Revenue was $12.1B in Q2 2026, up 20% year over year and up 23% from the previous quarter. Packaging & Specialty Plastics was the largest line at 53% of revenue. Packaging & Specialty Plastics added $1.4B year over year (up 27%), 68% of the total change.
Operating profit was $0.87B, a 7.2% margin (up 13.7 points year over year). Total costs grew 4% against revenue growth of 20%. The fastest-growing cost line was SG&A (+54%). Net earnings were $0.72B. The effective tax rate was 7.9%.
Operating cash flow was $1.3B, 166% of net income including minority interests. Non-cash charges added back $0.66B of depreciation and amortization. Working capital and other items used $0.14B. Capital expenditures of $0.03B left free cash flow of $1.3B.
Questions
What was DOW's revenue in the second quarter 2026?
DOW (DOW) reported revenue of $12.1B for the second quarter 2026 (Q2 2026), +20% from a year earlier and +23% from the quarter before.
Was DOW profitable in the second quarter 2026?
Operating profit was $871M (7.2% of revenue) and net earnings $721M.
Source: DOW 10-Q on SEC EDGAR.