Dow and DuPont Face Weak Demand and Inventory Issues

Both chemical giants report drop in Q4 2023 sales and expect challenging Q1 2024, but see potential recovery later in the year.

Dow and DuPont, major chemical companies, have reported weak demand and inventory issues leading to a drop in sales in Q4 2023 and a bleak outlook for Q1 2024.
Dow reported a 10.4% drop in Q4 sales and expects flat sales for Q1 2024. However, it beat market expectations for its Q4 profit and sales.
DuPont issued a profit warning, expecting a loss in Q4 2023 and lower-than-expected profit and sales in Q1 2024. Its shares fell by 13%.
Weak demand in China and inventory destocking are cited as key issues by both companies.
Despite the challenges, both companies expect some positive signals in 2024, with Dow seeing potential in construction, automotive and consumer electronics, and DuPont expecting a market recovery for electronic materials.