DowDuPont Tumbles Most Since 2017 Merger After Warning on Profit
- Company forecasts drop in first-quarter sales and earnings
- China is leading global slowdown, largest chemical maker says
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DowDuPont Inc. warned that it expects profit to fall this year amid a slowdown in China and Europe, triggering the biggest stock rout since the 2017 merger that created the chemical colossus.
The weakening global outlook comes just as the company prepares to split itself into three. Operating earnings for the combined businesses in 2019 will be “slightly down” and sales will be “about flat,” DowDuPont said Thursday as it released fourth-quarter results. The company also forecast declines in first-quarter sales and profit, while analysts had expected significant gains.