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The chemicals giant had a rocky 2020, sustaining a more than 10% hit to revenues as the pandemic initially slammed oil prices and demand for some of Dow’s products. The company cut capital spending by over $700 million from the year prior, but posted year-over-year revenue growth in the fourth quarter as demand recovered. Deadly winter storm Uri knocked Texas offline and temporarily halted Dow’s Gulf Coast operations in early 2021, but the firm still managed to report strong earnings to kick off the year. Now, the chemicals titan is facing a new dynamic: keeping up with rising demand for its products amid tight supply and low inventory. That all bodes well for Dow’s business, at least for now, as CEO Jim Fitterling recently predicted prices for the company’s products should remain elevated.
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