Indianapolis-based Dow Agrosciences is reporting second quarter profit of $228 million, down from $255 million during the same quarter last year. The agricultural sciences unit of The Dow Chemical Co. (NYSE: DOW) says sales were impacted by low crop commodity prices and high industry inventories.
The company says crop protection volume was lower in the second quarter due to reduced demand for generic herbicides. Seed volume also declined due to a soft demand in sunflower and soybeans.
Dow Chemical is reporting second quarter net income of $3.1 billion, up from $1.1 billion during the same period the previous year. Net sales decreased 7 percent to just under $12 billion.
The results come just over a week after shareholders approved the proposed $130 billion merger of The Dow Chemical Co. and DuPont (NYSE: DD). Officials expect the merger to be complete by the end of the year.