DOW Launches Dowsil PV Product Line and Expands Portfolio – March 14, 2023
dow inc (DOW – Free Report) recently expanded its line of silicone sealants to offer mounting materials for photovoltaic (PV) modules by launching the Dowsil PV line of products. This will also drive the company’s global move toward renewable energy. The newly launched product line includes six silicone-based sealant and adhesive solutions that can be used to provide durability and proven performance for frame sealing, track bonding, junction box bonding and potting, and building integrated photovoltaic (BIPV) installation materials.
The global transition to carbon neutrality has created a demand for high-performance, affordable, and renewable energy solutions across the supply chain. By launching the Dowsil PV product line, the company aims to provide customers with reliable solutions with proven performance as there is an increasing demand for integrated building and infrastructure solar solutions as well as large-scale solar power plants in the PV module assembly market.
With multiple global manufacturing facilities and backward-integrated supply chains, Dow is well positioned to offer demonstrated solutions to ever-growing and evolving local markets. The company stated that through this newly launched product line, it will be able to deliver innovative next-generation silicone materials to meet the needs of its customers and help them move into a more sustainable world.
Shares of DOW are down 11% over the past year while the industry is up 2.9%.
The company said on its fourth-quarter earnings call that it sees positive signs from moderate inflation in the United States, improving energy prospects in Europe and reopening in China. It also implements targeted actions focused on optimizing labor costs and purchased service costs, reducing turnaround expenses, and increasing productivity. As part of these measures, Dow plans to cut approximately 2,000 jobs worldwide. Dow expects these initiatives to deliver $1 billion in cost savings in 2023. The company also expects to record a charge of $550 million to $725 million for costs related to these actions in the first quarter of 2023.
Dow Inc. price and consensus
Zack’s Rank & Key Picks
Dow currently carries a Zacks rank #3 (hold).
Some better ranked stocks in the materials space are ATI Inc. (ATI – free report) Olympic Steel, Inc. (ZEUS – Free report) and Cal Maine Foods, Inc. (QUIET – free report). ATI currently has a Zacks Rank #2 (Buy), while ZEUS and CALM have a Zacks Rank #1 (Strong Buy). You can see the full list of today’s Zacks #1 Rank stocks can be found here.
ATI shares are up 45.3% over the past year. The Zacks Consensus estimate for ATI’s year-to-date earnings has been revised up 1.4% over the last 60 days. The company has a year-to-date earnings growth rate of 9%.
ATI has beaten Zack’s Consensus Estimate for all of the past four quarters. It delivered a trailing four-quarter earnings surprise averaging 32.4%.
Olympic Steel shares are up 67.6% over the past year. The Zacks Consensus estimate for ZEUS year-to-date earnings has been revised up 61% over the last 60 days. ZEUS has beaten Zack’s Consensus Estimate for all of the last four quarters. It delivered a trailing four-quarter earnings surprise averaging 26.2%.
Cal-Maine stock is up 16.5% over the past year. The company has a year-to-date earnings growth rate of 515.8%. Zacks’ consensus estimate for CALM’s year-to-date earnings has been revised up 19% over the last 60 days.
CALM beat Zack’s Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise averaging 15.3%.
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