Apr 23, 2026, 7:11 AM ETDow Inc. (DOW) StockBy: Rob Williams, SA News Editor

Dow Inc. (DOW), one of the world’s largest chemicals and materials manufacturers, reported first-quarter results on Thursday that beat Wall Street expectations for both revenue and adjusted earnings despite posting a net loss.

Shares of Dow (DOW) rose 1.8% in premarket trading. As of Wednesday’s close, the stock was up 34% over the prior 12 months.

Net sales fell 6% to $9.79 billion from $10.43 billion a year earlier, but still topped analysts’ consensus estimate of $9.67 billion. Operating earnings per share, the company’s adjusted measure, showed a loss of $0.14 a share, better than the expected adjusted loss of $0.29 a share.

Net income fell to a loss of $445 million, or $0.74 a share, from a loss of $290 million, or $0.44 a share, a year earlier.

Cost cuts help offset weak pricing

Dow (DOW) said lower prices and softer demand weighed on results, though benefits from its cost reduction efforts helped cushion the impact.

“In the first quarter, our results reflect the growing impact of Dow’s self-help actions,” Chief Executive Jim Fitterling said in the earnings release.

Volume declined 2% year over year, while local prices fell 7%. Gains in packaging plastics volumes were offset by lower sales in industrial intermediates and infrastructure products, partly tied to conflict-related disruptions in the Middle East.

Packaging business leads segments

Dow’s (DOW) Packaging & Specialty Plastics unit, its largest segment, generated $4.9 billion in revenue, down 7% from a year earlier. Performance Materials & Coatings sales were roughly flat at $2.08 billion, while Industrial Intermediates & Infrastructure revenue declined 8% to $2.63 billion.

The coatings and silicones businesses benefited from stronger demand tied to electronics, home and personal care applications.

Cash flow improves, outlook firms

Dow (DOW) reported earnings before interest, taxes, depreciation and amortization of $873 million, compared with $944 million a year earlier. Cash provided by operating activities from continuing operations jumped to $1.12 billion from $104 million a year earlier.

Fitterling said pricing actions across businesses and regions were already creating momentum, while the company’s manufacturing footprint and supply chain flexibility positioned it for improved growth, wider margins and stronger shareholder returns.

Dow (DOW) makes plastics, industrial chemicals, coatings materials and silicones used in packaging, construction, automotive, electronics and consumer products. Its well-known brands include Styrofoam insulation, Silastic silicone materials and Dowlex polyethylene resins used in flexible packaging.

https://seekingalpha.com/news/4578539-dow-tops-estimates-as-cost-cuts-help-to-narrow-quarterly-loss?mailingid=45350018&messageid=2900&position=rta_news_toplink_analysis_popular_main_2_textlink&serial=45350018.1215&source=email_2900

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Americanstar expands Mattress King lineup to 13 SKUs

Sheila Long O’Mara //Executive Editor, Furniture Today//April 20, 2026

WACO, Texas — Americanstar Mattress is expanding its retail footprint in the Midwest through a deeper partnership with Oklahoma-based Mattress King, underscoring continued momentum for the Texas manufacturer’s premium, margin-focused assortment.

Mattress King, which operates six sleep specialty stores across Oklahoma, has increased its Americanstar lineup to 13 SKUs across all of the retailer’s locations. The retailer said Americanstar’s Presidential hybrid collection has been its  retailer’s top-selling mattress line for four consecutive years.

Ryan Farris, CEO of Mattress King, said the decision to expand the assortment was driven by both consumer demand and ease of selling on the showroom floor.

“Americanstar has proven to be a strong partner for our business,” Farris said. “Their products resonate with our customers, and just as importantly, they give our sales team a compelling story that’s easy to tell. When your top best-sellers all come from one vendor, expanding that relationship isn’t a question; it’s the obvious next step.”

The expanded assortment brings a broader range of price points and constructions to Mattress King’s floors, including Americanstar’s S-Class, Cleopatra, First Class, Presidential, Medispa Prestige, Ecoflex and Capella collections. Company officials said the lineup is designed to give retail sales associates flexibility in addressing varying comfort preferences while maintaining the margin structure that has supported strong sell-through.

Tony Nguyen, chief operating officer of Americanstar U.S., said the partnership reflects the company’s strategy of aligning with retailers focused on performance at the store level.

“Mattress King is exactly the kind of retail partner we’re proud to grow with,” Nguyen said. “They understand what drives results on the floor and have built their business around delivering real value to their customers. When performance validates the partnership this clearly, it reinforces our focus on supporting retailers with products that are consistent, reliable and profitable.”

The Oklahoma expansion comes as Americanstar continues to scale its presence across North America. In recent months, the company has broadened its relationship with Texas-based Bel Furniture, more than doubling its in-store presence, expanded with Mattress Firm Montana, and entered Kansas through a statewide rollout with The Mattress Hub.

Supporting that growth is an increased investment in domestic manufacturing. Americanstar’s 200,000-square-foot facility in Waco now includes in-house foam production, leveraging more than two decades of global foam-pouring expertise. The vertical integration allows the company to develop proprietary materials, including its SilkFoam technology, while maintaining cost efficiencies aimed at supporting retailer margins.

Company officials said the combination of product performance, manufacturing control and retail alignment continues to position Americanstar for further expansion as it builds out its U.S. distribution network.

https://www.furnituretoday.com/bedding-manufacturers/americanstar-expands-mattress-king-lineup-to-13-skus/?utm_medium=FT&utm_source=Act-On+Software&utm_content=Editorial&utm_term=Americanstar%20expands%20Mattress%20King%20lineup%20to%2013%20SKUs&utm_campaign=Americanstar%20expands%20Mattress%20King%20lineup%20to%2013%20SKUs&cm_mmc=Act-On%20Software-_-email-_-Americanstar%20expands%20Mattress%20King%20lineup%20to%2013%20SKUs-_-Americanstar%20expands%20Mattress%20King%20lineup%20to%2013%20SKUs&ActOnUniqueID=HFD638689

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TRADING UPDATE Q1 2026
Two Seasons In One Quarter

• Revenue in Q1 2026 is up 6.1% from EUR 158.4 million to EUR 168.1 million, entirely driven by
  acquisitions
• After a slow start, we saw a very strong organic volume and revenue acceleration in March
• Strategic investment initiatives on track
  Stefaan Debusschere, Chief Executive Officer Recticel Group:
  “The first quarter has been characterized by an exceptionally strong contrast between a slow, weather-
  beaten start-up of the year in the first 6 weeks, and a very dynamic rebound from the end of February
  onwards. Organic revenue was under pressure by historically low raw material costs and sales prices.
  The dramatic cost increases of raw materials and energy costs in the wake of the geopolitical crisis in the
  Middle East, which were translated into higher sales prices, have spurred customers to buy ahead,
  especially in Insulation Boards. We expect prices in Insulated Panels and Insulation Boards, to be subject
  to an exceptionally high increase in the second quarter, depending on the category. At the beginning of
  April, we see healthy orderbooks and high run rates, pointing towards a clear acceleration of volume and
  revenue growth in the quarter. We do, at this time, not experience shortages in key raw materials.
  Our polyol recycling unit is starting up as we speak, and the construction of our Insulated Panels plant in
  Tennessee (US) is on schedule for an early Q4 production start. Our operational excellence initiatives
  both in operations and administration continue, and we increase the share of our higher margin sales in
  downstream & high performance solutions.
  We expect another year of growth, but given the uncertain geopolitical situation, Recticel Group, at this
  stage does not provide a quantitative outlook for the year.”

https://files.webdisclosure.com/1403115/20260422_Q1_2026_Trading_Update_final.pdf

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Northfield, IL, April 15, 2026 – Effective May 15, 2026, or as contracts allow, Stepan will increase the price for
STEPANPOL ® Rigid Polyester Polyols used in the Americas by $0.06 per pound and TERATE® Rigid Polyester Polyols
used in the Americas by $.08 per pound. This increase is necessary due to the continued escalation in raw material
prices.

Please contact your Stepan Company sales representative to learn more about the price increase.

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TL linehaul rate index up 15 straight months

Todd Maiden

· Tuesday, April 14, 2026

March data from Cass Information Systems showed freight shipment declines narrowed while rates continued to move higher.

Cass’ (NASDAQ: CASS) multimodal shipments index increased 3% sequentially in March (up 1% seasonally adjusted), building on a 10.4% increase in February (plus-4.3% seasonally adjusted). The index was down just 4.5% year over year in the recent month, the smallest y/y decline since June. On a two-year comparison, freight volumes tracked by Cass were off less than 10%.

Table: Cass Information Systems (SA – seasonally adjusted)

The dataset has lagged other indicators, which are showing a more upbeat demand environment.

Cass data includes a significant mix of less-than-truckload transactions. Less-than-truckload demand is weighted to the industrial economy, which has been under pressure for the majority of the past three years. However, an LTL inflection may be nearing as the Purchasing Managers’ Index for manufacturing has signaled growth in the first three months of the year.

The Tuesday report said the shipments index is “starting to catch up with other indicators” as “tightness in dry van truckload (TL) conditions is starting to radiate to other markets.” The index is expected to be off 5% y/y in April, assuming normal seasonal patterns hold, moving into positive territory in the back half of the year (plus-1.5% is the current forecast).

Even with the volume headwind, Cass’ expenditures index, which measures total freight spend including fuel, increased 4.9% from February (up 2.4% seasonally adjusted). A 4.2% y/y increase during the month coupled with the 4.5% decline in volumes implies actual freight rates were roughly 9% higher in the month. However, changes in freight mix can alter the implied rate assumption.

The report said a recent survey of midsize and large fleets showed some tightening in driver availability as new non-domicile CDL rules took effect in the month.

“Driver availability is a key component of capacity in the market, and additional scarcity seems likely, supporting higher freight rates,” the report said.

Cass’ TL linehaul index, which tracks rates excluding fuel and accessorial surcharges, increased 1.8% y/y in March, marking 15 consecutive y/y increases. A modest 0.5% step down from February was the first sequential decline in seven months. (The dataset includes for-hire spot and contract rates.)

Higher diesel fuel prices, which pushed some operators to the sidelines, offset incremental capacity availability as carrier networks recovered from severe winter storms, the report said.

“Considerable increases in contract rates are likely for the truckload market. After a four-year bottoming phase of the for-hire cycle, we believe we’ve moved to the early cycle phase where capacity becomes short and rates rise.”

Data used in the indexes comes from freight bills paid by Cass, a provider of payment management solutions. Cass processes $37 billion in freight payables annually on behalf of customers.

https://www.freightwaves.com/news/cass-data-shows-further-freight-market-tightening-in-march?oly_enc_id=7798A6382167C2R

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MIDLAND, Mich., April 14, 2026 /PRNewswire/ — Dow (NYSE: DOW) today announced that Jim Fitterling, Chair and Chief Executive Officer, will become Executive Chair of the Board, effective July 1, 2026. The Dow Board of Directors has appointed Karen S. Carter, currently Chief Operating Officer, as Chief Executive Officer, effective July 1, 2026. Carter will also join Dow’s Board of Directors at that time. Richard Davis will continue to serve as Dow’s Independent Lead Director.

Today’s announcement reflects the culmination of a multi-year, thoughtful succession planning process and supports continuity as Dow continues to advance its strategy as a world leading materials science company.

“On behalf of the Board, I want to thank Jim for his exceptional leadership and continued contributions to Dow,” said Davis. “Jim has led the company through a period of significant transformation while strengthening Dow’s strategy, culture and long-term positioning. We are equally pleased to congratulate Karen on her appointment as CEO. She is a disciplined, highly respected leader with a deep understanding of Dow’s businesses and customers. This appointment reflects our confidence in her ability to lead Dow forward into its next chapter of growth and value creation for customers, employees and shareholders.”

A Legacy of Transformation and Value Creation

During his tenure as CEO, Jim Fitterling has played a pivotal role in reshaping Dow into a more focused, resilient and innovation-driven enterprise, with an emphasis on higher-growth, consumer demand-led markets. Since becoming CEO in 2018 and Board Chair in 2020, he has guided Dow through its spin-out from DowDuPont, navigated the enterprise through macroeconomic and geopolitical challenges, and transformed Dow by advancing its sustainability ambitions and reinforcing a culture centered on safety, performance and inclusion.

“Serving as CEO of Dow has been the privilege of a lifetime,” said Fitterling. “Together with our employees and leadership team, we have transformed Dow into a stronger, more focused company with the right strategy, capabilities and culture for the future. I look forward to continuing to support Dow as Executive Chair and working closely with Karen to help ensure continuity and strong execution.”

In his new role, Fitterling will continue to chair the Board and focus on long-term strategy, governance, and key external relationships, while supporting continuity in leadership and execution.

A Proven Leader to Lead Dow Forward

Karen S. Carter brings more than three decades of experience at Dow, with deep operational expertise and a strong track record of delivering results across the enterprise. As Chief Operating Officer, she has overseen business and operational performance company-wide, with responsibility for Dow’s operating segments and key functional organizations, while strengthening customer engagement and accelerating innovation.

Previously, Carter served as President of Dow’s Packaging & Specialty Plastics, the company’s largest operating segment, where she led value growth through asset upgrades, capacity expansions and improved reliability, while advancing circular economy solutions in close partnership with customers and brand owners. She has also held senior leadership roles across business, commercial, and corporate functions, giving her a uniquely holistic perspective on Dow’s operations.

“I am deeply honored to assume the role of CEO and lead Dow into our next chapter,” said Carter. “Dow has extraordinary people, world-class assets and leading positions in the markets we serve. Our focus remains unwavering: delivering reliable and innovative solutions for our customers, and long-term value for our employees and our shareholders, while accelerating our transformation to set a new competitive standard for best-in-class performance. I look forward to continuing my partnership with Jim in his new role as Executive Chair, and to working with the Board and all of Team Dow to advance our strategy and deliver on our priorities.”

https://www.prnewswire.com/news-releases/dow-chair-and-ceo-jim-fitterling-to-become-executive-chair-karen-s-carter-appointed-chief-executive-officer-302741591.html

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Apr 13, 2026, 6:40 AM ETSomnigroup International Inc. (SGI) Stock, LEG StockBy: Preeti Singh, SA News Editor

Somnigroup International (SGI) has agreed to acquire Leggett & Platt (LEG) in an all-stock transaction worth ~$2.5B, based on Somnigroup’s April 10 closing price.

Under the terms of the agreement, Leggett & Platt shareholders will receive 0.1455 shares of Somnigroup common stock in exchange for each share of Leggett & Platt common stock they own.

As a result, Leggett & Platt’s shareholders will own ~9% of the combined company on a fully diluted basis. The agreement has been unanimously approved by the boards of directors of both companies.

The transaction is currently anticipated to close by year-end 2026, subject to the satisfaction of customary closing conditions, including approval by Leggett & Platt’s shareholders and receipt of applicable regulatory approvals.

Upon closing, Leggett & Platt is expected to operate as a separate business unit within Somnigroup, similar to Tempur Sealy, Mattress Firm, and Dreams, and to maintain its offices in Carthage, Missouri.

Leggett & Platt’s chairman and CEO, Karl Glassman, will continue to lead Leggett & Platt following the closing date and will assist with a seamless transition to a new CEO of the Leggett & Platt business unit within twelve months of the closing date.

Somnigroup and Leggett & Platt have collaborated for nearly 50 years to drive innovation in the bedding market. After giving effect to the transaction, including elimination of intercompany sales, the combined company generated 2025 net sales of around $11.2B, ~$1.7B of adjusted EBITDA, and $1.1B of operating cash flow.

The combination is expected to be accretive to adjusted EPS before synergies in the first year post close and presents cost synergy opportunities with an expected net positive impact on adjusted EBITDA of $50M on a fully implemented annual run-rate basis.

https://seekingalpha.com/news/4574337-somnigroup-to-buy-leggett-platt-in-25b-all-stock-deal?mailingid=45173145&messageid=2900&position=rta_news_bankr_hysacopy_t2_seethehighest_main_2_textlink&serial=45173145.553&source=email_2900

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2/4/26
Stahl
(68.5% stake fromhttps://www.pnc.com/en/corporate-and-institutional/topics/specialty-segments/chemicals-and-plastics.html?WT.mc_id=CIB_Offline_0065
Wendel; 16.1% from
BASF SE; 14.6% from
Clariant AG)
Henkel AG & Co.
KGaA
EUR 2.1B –

• Henkel AG & Co. KGaA has agreed to acquire Stahl, a Netherlands-based producer of
  high-performance specialty coatings for flexible materials, serving companies across
  the automotive, fashion & lifestyle and packaging markets. Stahl’s portfolio consists
  of leather finishing coatings, performance coatings as well as high-performance
  paper packaging & graphics coatings.
• “With the acquisition of Stahl, we will further strengthen our Adhesive Technologies
  business unit in line with our strategic agenda for purposeful growth. It will enable us
  to expand into the attractive adjacent category of specialty coatings with product
  offerings in core as well as in new end-markets, driving further growth in our
  Adhesive Technologies business unit.” said Henkel CEO Carsten Knobel.
• Stahl employs approximately 1,700 people and generates annual revenue of EUR 725
  million (2.9x EV / Revenue).

1/27/26
Universal Chemicals
and Coatings
PRO-SET
Formulated
Resin Systems
(Iron Path
Capital)

• –
• PRO-SET Formulated Resin Systems (“PFRS”) has acquired Universal Chemicals and
  Coatings, an Illinois-based manufacturer of custom industrial coatings, laminating
  adhesives and container linings.
• This marks the third acquisition for PFRS, following its acquisition of Gougeon
  Brothers, Inc. in May 2025 and Wessex Resins and Adhesives in December 2025.
  Furthers PFRS’ strategy to build a global formulated resin systems business focused
  on highly specified formulated products for fabricating, bonding, sealing, coating and
  repair of advanced non-metallic and metallic composite structures for marine,
  aerospace, defense, electronics and industrial applications.

1/22/26
Chemical business of
Kyocera Corporation
Sumitomo
Bakelite
Company Limited
$189M –

• Sumitomo Bakelite Company Limited has agreed to acquire the Chemical business of
  Kyocera Corporation. Kyocera’s chemical business, based in Japan, manufactures
  epoxy-resin molding compounds for encapsulation of semiconductor devices,
  bonding pastes for semiconductor devices and resins for industrial use.
• Enhances Sumitomo’s presence in the information & communications technology
  industry.

1/14/26
Key Polymer
(DalFort Capital
Partners)
Seatex
(The Riverside
Company)

• –
• Seatex has acquired Key Polymer, a Massachusetts-based manufacturer of highperformance
  adhesives, sealants and coatings for a diverse range of industries.
• “Key Polymer is an excellent complement to the Seatex platform,” said Riverside
  Partner Craig Kahler. “This represents our first follow -on acquisition since we
  acquired Seatex in October 2024 and materially advances our plans to expand the end
  market and geographic reach of the platform.”

3/19/26 Diversified Plastics
The Rubber
Group
(River Associates)

• –
• The Rubber Group has acquired Diversified Plastics (“DPI”), a Montana-based
  precision plastic manufacturer offering urethane casting, thermoforming, machining
  and injection molding.
• “The combination is about growth. We are bringing together complementary
  capabilities to better serve customers,” said Rob Pruyn, President, The Rubber
  Group. “By combining rubber, plastics, and urethane capabilities, we can offer a
  broader range of engineered solutions to both customer bases, and the cross-selling
  opportunity is significant.”
• DPI will now be known as Diversified Plastics Industrial Solutions.

https://www.pnc.com/en/corporate-and-institutional/topics/specialty-segments/chemicals-and-plastics.html?WT.mc_id=CIB_Offline_0065

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April 9, 2026 1 min read

On April 8, 2026, The US Department of Commerce announced that it has issued its final affirmative anti-dumping determination on methylene diphenyl diisocyanate (MDI) from China, imposing duties of 85.11% on major producers and 159.04% on others, a sharp reduction from preliminary rates. The final ruling sets a dumping rate of 85.11% for producer and exporter Covestro Polymers (China) Co., Ltd., producer Wanhua Chemical Group Co., Ltd., and its exporter Shandong Mingko Co., Ltd. All other Chinese producers and exporters received a rate of 159.04%. The products involved fall under US Harmonized Tariff Schedule numbers 2929.10.8010 and 3909.31.0000.

These final rates represent a significant reduction from the preliminary dumping duties of 376.12% to 511.75% announced in September 2025.

The US initiated the anti-dumping investigation on MDI from China on March 4, 2025, and issued its affirmative preliminary determination on September 16, 2025.

https://www.pudaily.com/Home/NewsDetails/63897

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Jeffrey A. Tucker

4/8/2026|Updated: 4/8/2026

It was six years ago and most nations of the world had gone into lockdown to beat back a respiratory virus. Nothing like this had ever been tried before, and this is for a reason. Every pandemic protocol recommended against such tactics. This of course included work-from-home orders and a huge disruption in normal work flows, including the forced closure of small businesses.

In the early weeks of these wild times, something unusual happened. You would go to the store and could not find toilet paper. You would go to another and it wasn’t there either. Hardly anyone actually stocks up on something that had always been available, so this was something of a shock. It came just as so much else seemed to be breaking, so it seemed in a sense like the world was falling apart.

Suddenly you were seeing toilet paper on sale for high figures on Facebook Marketplace. People were texting my phone with offers. Messages were coming in from all quarters wondering where they could get it. People were driving long distances just on a rumour that some was in stock somewhere.

Who knew just how thin the veneer of civilization truly was? People were losing their minds about what was surely a brief interruption in the availability of a product invented little more than 100 years ago, before which time people would use water or the “Farmer’s Almanac” hanging on the wall of the outhouse. Blech, but come on people!

Folks began to wonder how this had happened. The first theories involved supply chain breakages. Maybe truckers stopped showing up. Maybe we are more dependent on imports than we knew.

Or maybe bad people were stockpiling toilet paper. There were social media posts with pictures of people who had filled their entire garage with toilet paper, thus triggering genuine outrage. Stores that had toilet paper started rationing it. Or raising prices to effectively ration, thus prompting claims of gouging.

This went on for maybe two weeks of extreme deprivation and near panic. Had the forces of supply and demand broken? Was civilization utterly collapsing with this just as a first sign?

The actual explanation is both much simpler and more interesting. As it turns out, the workplace is where most people find the need for toilet paper. Workplace rolls are typically much different. They are industrial-sized rolls using machines wholly unlike anything one would use at home. They also use cheaper-quality paper.

But with millions suddenly working from home and avoiding the office altogether, the demand for workplace commercial varieties of toilet paper collapsed. Warehouses were stuffed with it but demand was nowhere in sight. Conversely, the demand for vast quantities of home use soared even as stay-at-home people decided to stock up. Experience suggests that households staying home will use about 40 percent more toilet paper of the type specifically manufactured for that purpose.

Most stores keep just enough to match supply and demand. Now we had a market shock. Even manufacturers had not prepared and suddenly faced a demand that they could not meet under normal production patterns. They certainly had not anticipated this.

The result was exactly as we saw. The markets had not broken. They were working entirely as they should. Manufacturers retooled and responded. Retailers rushed to stock up. In a few weeks, the panic died down and a new equilibrium was established.

What does this event teach us about economics? Everything. Higher demand and fixed supply drive shortages and higher prices. Higher prices with a premium over costs of production calls forth increased supply. This happens not instantly but in time, as fast as possible so long as the market is working.

Which is precisely why we need markets always to work. This was an unusual and dramatic change but actually the market as a driving force of production decisions operated with great elan and beauty.

As Adam Smith would say, it was almost like an invisible hand was in control. No one needed to know the names of the people running the paper mills and give them a call. We are all only consumers of the product. The prices alone do the work to nudge the producers and retailers in the right direction.

Prices are the signs and symbols of the dynamics of human life itself, instructing and revealing the secrets of the material world to entrepreneurs and managers.

Many societies in history have attempted to replace prices and markets with plans and commands. It works until there is a change in conditions. Here’s the rub: there is always change. Every day, every minute, there is change. The point of the institution of markets is to investigate and instantiate that change in signs and symbols to poke and nudge producers about the right path forward.

What seemed to many to be a major example of markets having broken was actually the opposite. It revealed how markets work brilliantly. Even the most extreme exogenous shock that no one anticipated only caused a fortnight-long disruption in a good that society had decided was essential to human well-being.

I highly regret what our central managers of the microbial kingdom did to us in those days. They are the villains in this story. The free market, on the other hand, is the hero. It adapted and served the human family with essential goods, not immediately but as quickly as humanly possible.

This is the real story of the great toilet-paper shortage of 2020. So many people say it as a failure of capitalistic forces when, in the instance of this product, really it was one of its greatest victories.

https://www.theepochtimes.com/opinion/the-great-toilet-paper-shortage-6009290?ea_src=frontpage&ea_med=section-1

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