MIDLAND, Mich. (AP) — Dow Inc. (DOW) on Thursday reported first-quarter earnings of $239 million.

The Midland, Michigan-based company said it had profit of 32 cents per share. Earnings, adjusted for restructuring costs and to extinguish debt, were 59 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The materials science posted revenue of $9.77 billion in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $9.58 billion.

Dow Inc. shares have fallen 31% since the beginning of the year, while the Standard & Poor’s 500 index has decreased 9%. The stock has dropped 32% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DOW at https://www.zacks.com/ap/DOW