Dow Corning posts loss despite silicone sales growth

Midland, Michigan – Dow Corning’s sales dropped 11 percent year-on-year in the first quarter 2015 totalling $1.36 billion, according to a company release on 29 April.

Adjusted net income in the first quarter of 2015 was $101 million, a decrease of 8 percent compared with the first quarter of 2014.

Dow Corning's silicones segment experienced volume growth in several of its specialised product lines, especially for materials sold in construction, healthcare and packaging applications.

The strengthening US dollar accounted for a 4.7 percent revenue decrease in silicones, partially offset by “lower than expected” raw materials and energy costs, said the company.

"Our Silicones segment is steadily improving profit growth with our focus on providing highly differentiated and innovative materials to customers,” said executive vice president and chief financial officer Donald Sheets.

“Despite the headwinds caused by the strengthening US dollar we saw significant growth in our most profitable product lines in the first quarter," he added.