"EBITDA(3) grew to $2.3 billion, up 24 percent versus the prior year, driven by ongoing productivity actions and improved market fundamentals. Performance Plastics achieved record quarterly adjusted EBITDA results (up 31 percent versus the year-ago period). Performance Materials EBITDA grew 61 percent with increases in most businesses, notably in Polyurethanes and PO/PG. Electronic and Functional Materials also delivered record quarterly EBITDA (up 11 percent)"Normally I don't comment much on earnings reports, but this year has been different ever since the activist investor Daniel Loeb took up a stake in the company back in January. Unfortunately for Loeb, the company has been doing very well since then, providing plenty of egg for him to wipe off his face, such as that great earnings report that came out just 6 days after his initial critical comments. But might be expected for someone who has forgotten their calculus lessons.
Somehow I don't think Loeb will be commenting anytime soon (other than to announce that he threw his arm out trying to pat himself on the back for the great job he did in improving Dow's performance since January).
And now he's advocating for a breakup of Amgen also - one company that uses its high margin established drug sales to pay huge dividends and another "growth" company to develop new meds....Because the established company won't ever need any new products. And the growth company won't need any funds to support development efforts.
And DSM too.
He's a one-trick pony.
Wonder how much of those earnings are due to illegal activities such as price fixing... how do these guys stay out of jail?
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