<p>Chemicals giant Dow Inc on Thursday missed Wall Street estimates for fourth-quarter profit, hurt by higher energy costs, weaker demand and supply chain disruptions and said it would cut about 2,000 jobs globally.</p>.<p>Dow has seen its production costs rise in recent quarters due to higher energy costs and supply chain issues following Russia's invasion of Ukraine as well as China's COVID-led lockdowns.</p>.<p>Prices of U.S. natural gas, a key input in manufacturing chemicals, averaged $6.10 per million metric British thermal units (mmBtu) during the October-December quarter, nearly 26% higher from the previous year.</p>.<p>Supply chain disruptions in other sectors have also affected demand for Dow, which sells its chemicals to industries ranging from automobiles and food packaging to electronics.</p>.<p>Dow said it plans to achieve $1 billion in cost savings in 2023, while it deals with near-term macroeconomic uncertainty.</p>.<p>The Midland, Michigan-based company posted operating income of 46 cents per share, missing analysts' average expectation of 58 cents per share, according to Refinitiv IBES data</p>
<p>Chemicals giant Dow Inc on Thursday missed Wall Street estimates for fourth-quarter profit, hurt by higher energy costs, weaker demand and supply chain disruptions and said it would cut about 2,000 jobs globally.</p>.<p>Dow has seen its production costs rise in recent quarters due to higher energy costs and supply chain issues following Russia's invasion of Ukraine as well as China's COVID-led lockdowns.</p>.<p>Prices of U.S. natural gas, a key input in manufacturing chemicals, averaged $6.10 per million metric British thermal units (mmBtu) during the October-December quarter, nearly 26% higher from the previous year.</p>.<p>Supply chain disruptions in other sectors have also affected demand for Dow, which sells its chemicals to industries ranging from automobiles and food packaging to electronics.</p>.<p>Dow said it plans to achieve $1 billion in cost savings in 2023, while it deals with near-term macroeconomic uncertainty.</p>.<p>The Midland, Michigan-based company posted operating income of 46 cents per share, missing analysts' average expectation of 58 cents per share, according to Refinitiv IBES data</p>