shares of dow inc dow rallied 18 in premarket trading thursday after the chemicals and specialty materials company reported secondquarter profit and sales that beat expectations as price increases helped offset covidrelated lockdowns in china logistics constraints and higher energy and raw material costs net income fell to 168 billion or 226 a share from 193 billion or 251 a share in the yearago period local price increased 16 with gains in all segments businesses and regions operating earnings per share of 231 topped the factset consensus of 214 sales grew 128 to 1566 billion above the factset consensus of 1555 billion as a big beat in its packaging and specialty plastics business offset misses in its industrial intermediates and infrastructure and performance materials and coatings businesses cost of sales increased 201 to outpace sales growth and knock gross margin down to 1765 from 2265 the stock has tumbled 244 over the past three months through wednesday while the dow jones industrial average djia has lost 84