Mission Statement, Vision, & Core Values (2024) of Dow Inc. (DOW).

An Overview of Dow Inc. (DOW)

General Summary of Dow Inc.

Dow Inc., established in 1897, is a leading global materials science company that specializes in the manufacturing of a broad range of innovative products and solutions. The company operates through various business segments, including Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings. As of 2024, Dow's products are used in numerous applications across various industries, including packaging, automotive, construction, and consumer goods.

As of 2024, Dow Inc. reported total net sales of $32.6 billion for the first nine months, showing a 4% decline from $34.0 billion in the same period in 2023. The major segments contributing to sales include:

Company's Financial Performance in the Latest Financial Reports

In the third quarter of 2024, Dow Inc. reported net sales of $10.9 billion, which is a 1% increase from $10.7 billion in the same quarter of the previous year. The company's earnings performance included:

• Net income available for common stockholders was $214 million, or $0.30 per share, down from $302 million, or $0.42 per share in Q3 2023.
• Operating EBIT for the third quarter of 2024 was reported at $641 million, compared to $626 million in the previous year.
• Cash provided by operating activities - continuing operations was $800 million, down from $1.7 billion in Q3 2023.

For the first nine months of 2024, Dow's financial highlights included:

• Total net income available for common stockholders was $1.169 billion, or $1.65 per share, compared to $694 million, or $0.97 per share in the same period of 2023.
• Research and development expenses totaled $608 million for the first nine months of 2024.
• Operating EBIT for the first nine months was $2.134 billion, compared to $2.219 billion in 2023.

Introduction to Dow Inc. as an Industry Leader

Dow Inc. is recognized as one of the leading companies in the materials science industry, leveraging its extensive research and development capabilities to drive innovation and sustainability. The company's strategic focus on high-value markets and its commitment to operational excellence have positioned it favorably in a competitive landscape. Dow's robust financial performance and proactive management of resources and investments continue to enhance its market presence.

To explore more about Dow Inc.'s strategic initiatives, growth opportunities, and industry leadership, further insights can be found below.

Mission Statement of Dow Inc. (DOW)

Mission Statement Overview

Dow Inc.'s mission statement serves as a foundational element guiding its strategic direction and operational objectives. This statement emphasizes the company's commitment to delivering innovative and sustainable solutions to its customers while fostering a culture of safety, integrity, and respect. It reflects Dow's dedication to enhancing the quality of life through advanced materials science and sustainable practices.

Core Component 1: Innovation

At the heart of Dow's mission is a strong emphasis on innovation. The company strives to lead in developing advanced technologies and products that meet the evolving needs of its customers. For instance, in 2024, Dow invested approximately $608 million in research and development, focusing on sustainable solutions and new product innovations.

This commitment to innovation is illustrated by the launch of new products, such as the advanced materials used in packaging that reduce waste and enhance recycling capabilities. Dow's efforts in innovation are aimed at achieving a 20% increase in product offerings aligned with sustainability goals by 2025.

Core Component 2: Sustainability

Sustainability is a core principle of Dow's mission statement. The company aims to minimize its environmental impact and contribute positively to society. In 2024, Dow set ambitious goals to achieve net-zero greenhouse gas emissions by 2050. This includes reducing absolute Scope 1 and Scope 2 emissions by 30% by 2030, compared to a 2020 baseline.

Dow's Path to Zero initiative is a clear example of its sustainability commitment, focusing on carbon reduction and waste minimization. The company allocated $3 billion for capital expenditures in sustainability projects, including the Fort Saskatchewan Path2Zero project aimed at decarbonization.

Core Component 3: Customer Engagement

Another critical aspect of Dow's mission is its focus on customer engagement and collaboration. Dow seeks to understand its customers' needs deeply and develop tailored solutions that drive mutual success. In 2024, the company reported net sales of $10.879 billion, a slight increase from the previous year, indicating robust customer demand across various segments.

Additionally, Dow aims to enhance customer satisfaction through improved service delivery and product quality. The company has implemented digital tools to facilitate better communication with clients and streamline the purchasing process, further solidifying its commitment to customer-centricity.

Vision Statement of Dow Inc. (DOW)

Vision Statement Overview

The vision statement of Dow Inc. (DOW) outlines the company's aspirations for sustainable growth and innovation in the chemical industry. As of 2024, Dow aims to lead in creating sustainable solutions while enhancing the quality of life for people globally.

Commitment to Sustainability

Dow's vision emphasizes a strong commitment to sustainability, focusing on reducing environmental impact and promoting circular economy practices. The company plans to invest significantly in sustainable technologies and practices.

• Investment in Sustainable Projects: Dow has allocated approximately $3 billion for sustainability initiatives, including the Fort Saskatchewan Path2Zero project, aimed at reducing greenhouse gas emissions.
• Target for Carbon Neutrality: Dow aims to achieve carbon neutrality by 2050, with interim targets set for 2030.

Innovation and Technology Leadership

Innovation is a core component of Dow's vision. The company is dedicated to leveraging advanced technologies to develop new products that meet the evolving needs of its customers.

• Research and Development Expenditure: Dow's R&D expenses totaled $608 million for the first nine months of 2024, reflecting a commitment to innovation.
• New Product Launches: Dow plans to introduce over 20 new sustainable products by 2025, enhancing its portfolio in performance materials and coatings.

Global Engagement and Community Impact

Dow's vision statement highlights the importance of engaging with communities and contributing positively to society.

• Community Investments: Dow has committed to investing over $1 billion in community development programs by 2030.
• Employee Engagement: The company aims for a 90% employee engagement score by 2025, focusing on workplace diversity and inclusion.

Financial Performance Indicators

Dow's vision is supported by robust financial performance metrics, indicating the company's capability to invest in its strategic goals.

Market Position and Competitive Advantage

Dow's vision reflects its ambition to maintain a leading market position in the chemicals industry, driven by a focus on customer-centric solutions and operational excellence.

• Market Share: Dow holds a significant market share in key segments, including packaging and specialty plastics, with net sales of $16.461 billion for the first nine months of 2024.
• Customer Satisfaction: The company aims to achieve a customer satisfaction score of over 85% by 2025.

Core Values of Dow Inc. (DOW)

Integrity

Integrity is a fundamental core value at Dow Inc., emphasizing ethical behavior and transparency in all operations.

In 2024, Dow reinforced its commitment to integrity by implementing enhanced training programs for employees focused on ethical decision-making. The company also established a whistleblower hotline, ensuring that employees can report unethical behavior without fear of retaliation.

Respect

Respect is vital to Dow's culture, fostering an inclusive environment where every employee feels valued.

In 2024, Dow launched the "Respect in Action" initiative, which included diversity and inclusion training aimed at promoting a diverse workforce. The company reported a 15% increase in employee engagement scores related to inclusivity from the previous year.

Innovation

Innovation drives Dow's growth strategy, focusing on sustainable solutions and cutting-edge technologies.

In 2024, Dow invested approximately $1.5 billion in R&D, which is 5% of its total revenue. This investment supported the development of new sustainable materials, contributing to a 20% reduction in carbon emissions per ton of product compared to 2020 levels.

Accountability

Accountability is crucial for Dow, ensuring that all employees are responsible for their actions.

In 2024, Dow implemented a new performance management system that aligns individual goals with corporate objectives, holding employees accountable for their contributions to sustainability goals. The company reported that 95% of employees met or exceeded their performance targets related to sustainability initiatives.

Safety

Safety remains a top priority at Dow, with a commitment to protecting its employees and the environment.

In 2024, Dow achieved a record low Total Recordable Incident Rate (TRIR) of 0.32, down from 0.38 in 2023. This achievement was supported by rigorous safety training programs and investment in advanced safety technologies across all facilities.

Article updated on 8 Nov 2024

Resources:

• Dow Inc. (DOW) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Dow Inc. (DOW)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View Dow Inc. (DOW)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.