New Dow CEO drives 'transformation' back to profitability amid oil market upheaval

Karen Carter, who became Dow’s CEO on July 1 after helping launch its “transform to outperform” strategy, said the company is driving a path back to profitability amid oil-market upheaval. Dow posted its most profitable quarter in four years, with net income of $802 million and a 20% increase in net sales, helped by higher North American petrochemical margins linked to the Iran war and elevated oil prices. Carter noted volatile conditions but said the firm will execute its self-help plan and target performance for the third quarter. Dow’s shares dipped slightly due to cautious guidance for the rest of the year tied to Middle East uncertainty and global supply-chain ripple effects. Dow’s strategic footprint—about 60% in the Americas—benefits from ethane and propane feedstocks compared with naphtha-heavy plants.