Indianapolis-based Dow AgroSciences is reporting record profit for the fourth quarter. The agricultural sciences unit of The Dow Chemical Co. (NYSE: DOW) also says double-digit sales growth in Latin America and North America helped boost sales and revenue to record levels for the quarter. January 29, 2014
Earlier this morning, Jan. 29, 2014, The Dow Chemical Company, parent company of Dow AgroSciences, announced its fourth quarter (Q4) 2013 earnings. Below you will see information on Dow AgroSciences (referred to as Agricultural Sciences). The entire Dow earnings release can be found here: www.dow.com/investors/earnings/2013/13q4earn.htm.
Agricultural Sciences reported record fourth quarter sales of $1.8 billion, up 13 percent versus the year-ago period. Sales gains were broad-based across all geographies, led by double-digit growth in Latin America and North America.
Fourth quarter Crop Protection sales rose 11 percent, driven by higher sales of herbicides in North America and Latin America, and higher sales of insecticides in Latin America. Sales of new crop protection products grew 23 percent, led by spinetoram insecticide. Full-year Crop Protection sales grew 10 percent.
Seeds, Traits and Oils (ST&O) sales were up 20 percent in the quarter due to gains in Latin America from increasing market demand for quality germplasm and stacked traits. Full-year ST&O sales grew 19 percent driven by strong farmer demand for SmartStax®
corn hybrids including Powercore and Refuge Advanced, and increased sales of soybeans.
EBITDA for the segment was a fourth quarter record of $177 million, up 13 percent from $156 million in the year-ago period.Source: Dow AgroSciences