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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jeff Zekauskas | JPMorgan | 7 questions · 71% challenging |
| Kevin McCarthy | Vertical Research Partners | 7 questions · 0% challenging |
| Vincent Andrews | Morgan Stanley | 7 questions · 0% challenging |
| Hassan Ahmed | Alembic Global | 7 questions · 14% challenging |
| Mike Sison | Wells Fargo | 6 questions · 17% challenging |
| Frank Mitsch | Fermium Research | 6 questions · 17% challenging |
| Dave Begleiter | Deutsche Bank | 6 questions · 0% challenging |
| Duffy Fischer | Goldman Sachs | 5 questions · 0% challenging |
| Matthew Blair | Tudor, Pickering, Holt | 5 questions · 0% challenging |
| Chris Parkinson | Wolfe Research | 4 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Vertical Research Partners | 1 analyst | 7 questions · 0% challenging |
| JPMorgan | 1 analyst | 7 questions · 71% challenging |
| Wells Fargo | 2 analysts | 7 questions · 14% challenging |
| Alembic Global | 1 analyst | 7 questions · 14% challenging |
| Morgan Stanley | 1 analyst | 7 questions · 0% challenging |
| Deutsche Bank | 1 analyst | 6 questions · 0% challenging |
| Fermium Research | 1 analyst | 6 questions · 17% challenging |
| Tudor, Pickering, Holt | 1 analyst | 5 questions · 0% challenging |
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Net sales of $9.8 billion declined 6% year-over-year with EBITDA of $873 million as Middle East conflict created unprecedented supply disruption, leading to a massive Q2 guidance of $2 billion EBITDA and $12 billion revenue on pricing momentum. CEO transition was announced with Karen Carter succeeding Jim Fitterling effective July 1. Transform to Outperform ramped with $193 million in period cost savings in Q1 while Americas cost advantage was reinforced by the global disruption.
Competitive Dynamics | Margin | Demand | Capital Allocation | Capex Investment | Pricing | Cost Pressure | Supply Chain | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 4 | 3 | 4 | 2 | 2 | 4 | 1 |
| 2025Q1 | 4 | 1 | 2 | 3 | 2 | 2 | 1 | |
| 2025Q2 | 4 | 4 | 4 | 5 | 1 | 2 | ||
| 2025Q3 | 3 | 3 | 4 | 4 | 2 | 2 | 1 | |
| 2025Q4 | 3 | 2 | 2 | 3 | 4 | 1 | 3 | 1 |
| 2026Q1 | 2 | 3 | 2 | 2 | 3 | 4 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Competitive Dynamics | 3 | 4 | 4 | 3 | 3 | 2 |
| Margin | 4 | 1 | 4 | 3 | 2 | 3 |
| Demand | 3 | 2 | 4 | 4 | 2 | 2 |
| Capital Allocation | 4 | 3 | 5 | 3 | 2 | |
| Capex Investment | 2 | 2 | 1 | 4 | 4 | |
| Pricing | 2 | 2 | 2 | 2 | 1 | 3 |
| Cost Pressure | 4 | 1 | 2 | 3 | ||
| Supply Chain | 1 | 1 | 1 | 4 |
Calendar quarter Q1 2026Earnings call Apr 23, 2026
FY2026 Q1 in brief
Net sales of $9.8 billion declined 6% year-over-year with EBITDA of $873 million as Middle East conflict created unprecedented supply disruption, leading to a massive Q2 guidance of $2 billion EBITDA and $12 billion revenue on pricing momentum.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
GAAP revenue YoY -6.11% → base 3. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Sources. Tellvest earnings-call sentiment score for Dow Inc. (DOW), FY2026 Q1: 3/10. Scores: Dow Inc.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: DOW daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Net margin | FCF |
|---|---|---|---|---|---|---|
| FY2024 Q4 | $10.40B | -2.0% | $-0.08 | +46.7% | -0.5% | $47M |
| FY2025 Q1 | $10.43B | -3.1% | $-0.44 | -160.3% | -2.9% | $-594M |
| FY2025 Q2 | $10.10B | -7.4% | $-1.18 | -290.3% | -8.3% | $-1.13B |
| FY2025 Q3 | $9.97B | -8.3% | $0.08 | -73.3% | 0.6% | $563M |
| FY2025 Q4 | $9.46B | -9.1% | $-2.15 | -2587.5% | -16.3% | $-284M |
| FY2026 Q1Selected | $9.79B | -6.1% | $-0.74 | -68.2% | -5.4% | $621M |
| FY2026 Q2 | $12.09B | +19.7% | $0.99 | +183.9% | 6.0% | $1.30B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Reported Thursday, Oct 22. Earnings call pending.
A pre-earnings brief is ready for DOW: the setup, what peers and partners said this season, and which analysts to watch.Reading it is a Tellvest Pro feature.
What DOW said about other companies on its FY2026 Q1 call, and what other companies said about DOW on their calls covering the same calendar quarter (Q1 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“In March, we received a cash payment from the Nova litigation, and we expect to receive the remaining tax withholdings of approximately $300 million later this year.”
Dow received a cash payment from its litigation against Nova Chemicals, with further tax withholdings expected later in the year.
“finish up these negotiations with Saudi Aramco on the restructuring of Sadara and trying to address some of the challenges that we have faced there.”
Dow is negotiating with JV partner Saudi Aramco to restructure the Sadara joint venture's balance sheet and leverage; a signal on Aramco's downstream JV exposure.
| Company | Score | Trend | Rev YoY | Headline |
|---|---|---|---|---|
| DOWDow Inc. | 3 | -6.1% | Middle East conflict creating unprecedented supply disruption | |
| ALBAlbemarle Corporation | 9 | +32.7% | Revenue surges 33% with adjusted EBITDA more than doubling | |
| APDAir Products | 9 | +8.8% | Air Products delivered Q2 EPS of $3.20 growing 19% as sales rose 9% driven by volume-led growth across the core industrial gas portfolio, the strongest top-line performance in several quarters | |
| CFCF Industries | 7 | +19.4% | Strong Q1 Adjusted EBITDA of $983 Million Amid Geopolitical Supply Shock | |
| CRHCRH plc | 7 | +9.1% | Strong revenue and EBITDA growth in Q1 | |
| CTVACorteva | 6 | +11.1% | Corteva reported Q1 FY2026 organic sales up 7% with seed up 9% and crop protection up 4%, while operating EBITDA grew 21% with margin expanding 240 basis points to over 29% | |
| DDDuPont | 6 | -45.2% | Strong Start to 2026 with Beat and Raise | |
| ECLEcolab | 7 | +10.0% | Adjusted EPS grows 13% with accelerating organic momentum | |
| FCXFreeport-McMoRan | 7 | +12.2% | Freeport grew revenue 12.24% year over year as copper prices averaged over $5.80 per pound and reached an all-time high exceeding $6 per pound, with U.S | |
| IFFInternational Flavors & Fragrances | 6 | -3.6% | Solid 3% CCN growth with all segments contributing | |
| LINLinde plc | 9 | +8.3% | Sales surged 8% to $8.8 billion with EPS of $4.33 up 10%, or 5% excluding favorable currency translation, as margin expansion tracked at the upper end of the range | |
| LYBLyondellBasell | 4 | -6.3% | Middle East conflict disrupts >20% of global PE/PP capacity | |
| MLMMartin Marietta Materials | 7 | +0.7% | Martin Marietta opened 2026 with revenues up 17% to $1.4 billion, a first quarter record, as organic aggregates shipment growth of 7.2% meaningfully exceeded guidance on an early start to the construction season in the Midwest and Colorado plus continued infrastructure and heavy nonresidential strength | |
| MOSMosaic Company (The) | 4 | +14.4% | Mosaic's Q1 2026 was dominated by the Persian Gulf conflict's devastating impact on global sulfur supply, pushing marginal sulfur costs to $1,200 per ton and compressing phosphate stripping margins below variable costs at the margin | |
| NEMNewmont | 9 | +50.0% | Record Free Cash Flow and Earnings Performance | |
| NUENucor | 9 | +21.3% | Record quarterly steel mill shipments at 7 million tons | |
| PPGPPG Industries | 6 | +6.7% | Fifth consecutive quarter of organic growth despite challenging macro | |
| SCCOSouthern Copper Corporation | 9 | +36.2% | Southern Copper delivered a record quarter, with net income up 67% to $1,577 million and sales up 36% to $4.3 billion as LME copper averaged $5.83 per pound (+38% YoY) and a silver byproduct boom (+158% price) lifted byproduct credits 36% to $1,189 million | |
| SHWThe Sherwin-Williams Company | 6 | +6.8% | Aggressive share gains across all segments | |
| STLDSteel Dynamics | 9 | +19.1% | Record Steel Shipments and Significant Earnings Growth | |
| VMCVulcan Materials Company | 7 | +7.4% | Vulcan delivered Q1 adjusted EBITDA of $447M, up 9%, with margin expansion as aggregate shipments returned to growth at 5% and pricing compounded with midyear increases ahead |
Middle East conflict creating unprecedented supply disruption
Revenue surges 33% with adjusted EBITDA more than doubling
Air Products delivered Q2 EPS of $3.20 growing 19% as sales rose 9% driven by volume-led growth across the core industrial gas portfolio, the strongest top-line performance in several quarters
Strong Q1 Adjusted EBITDA of $983 Million Amid Geopolitical Supply Shock
| Company | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|---|
| DOW | 4 | 3 | 2 | 2 | 3 | 3 |
| ALB | 3 | 2 | 3 | 4 | 9 | 9 |
| APD | 4 | 2 | 6 | 6 | 7 | 9 |
| CF | 4 | 8 | 8 | 9 | 9 | 7 |
| CRH | 7 | 6 | 7 | 8 | 7 | 7 |
| CTVA | 7 | 6 | 9 | 9 | 4 | 6 |
| DD | 8 | 7 | 7 | 7 | 5 | 6 |
| ECL | 7 | 6 | 5 | 7 | 8 | 7 |
| FCX | 4 | 2 | 9 | 6 | 3 | 7 |
| IFF | 6 | 5 | 6 | 4 | 6 | 6 |
| LIN | 7 | 5 | 7 | 7 | 6 | 9 |
| LYB | 3 | 2 | 2 | 2 | 2 | 4 |
| MLM | 7 | 8 | 7 | 8 | 6 | 7 |
| MOS | 2 | 6 | 6 | 9 | 4 | 4 |
Strong revenue and EBITDA growth in Q1
Corteva reported Q1 FY2026 organic sales up 7% with seed up 9% and crop protection up 4%, while operating EBITDA grew 21% with margin expanding 240 basis points to over 29%
Freeport grew revenue 12.24% year over year as copper prices averaged over $5.80 per pound and reached an all-time high exceeding $6 per pound, with U.S
Solid 3% CCN growth with all segments contributing
Sales surged 8% to $8.8 billion with EPS of $4.33 up 10%, or 5% excluding favorable currency translation, as margin expansion tracked at the upper end of the range
Middle East conflict disrupts >20% of global PE/PP capacity
Martin Marietta opened 2026 with revenues up 17% to $1.4 billion, a first quarter record, as organic aggregates shipment growth of 7.2% meaningfully exceeded guidance on an early start to the construction season in the Midwest and Colorado plus continued infrastructure and heavy nonresidential strength
Mosaic's Q1 2026 was dominated by the Persian Gulf conflict's devastating impact on global sulfur supply, pushing marginal sulfur costs to $1,200 per ton and compressing phosphate stripping margins below variable costs at the margin
Fifth consecutive quarter of organic growth despite challenging macro
Southern Copper delivered a record quarter, with net income up 67% to $1,577 million and sales up 36% to $4.3 billion as LME copper averaged $5.83 per pound (+38% YoY) and a silver byproduct boom (+158% price) lifted byproduct credits 36% to $1,189 million
Vulcan delivered Q1 adjusted EBITDA of $447M, up 9%, with margin expansion as aggregate shipments returned to growth at 5% and pricing compounded with midyear increases ahead
| NEM |
|---|
| 9 |
| 9 |
| 9 |
| 9 |
| 8 |
| 9 |
| NUE | 2 | 3 | 6 | 8 | 8 | 9 |
|---|
| PPG | 5 | 5 | 4 | 2 | 8 | 6 |
|---|
| SCCO | 9 | 9 | 4 | 9 | 9 | 9 |
|---|
| SHW | 6 | 5 | 3 | 6 | 7 | 6 |
|---|
| STLD | 2 | 2 | 3 | 8 | 8 | 9 |
|---|
| VMC | 7 | 7 | 6 | 7 | 6 | 7 |
|---|