Weakening Europe again whacks Dow Chemical profit

(Reuters) - Dow Chemical Co , the largest U.S. chemical maker by sales, reported a lower-than-expected quarterly profit on Thursday as demand for chlorine, plastics and electronic parts plunged around the world.

"Weak demand due to a slowdown in global growth drove declining prices," Dow Chief Executive Andrew Liveris said in a statement. "This, coupled with an unusually high turnaround season for Dow and a large currency effect, pressured margins in the quarter."

The results were weakest in Europe, as it has been for the company in recent quarters and for many of its peers.

For the second quarter, the company reported net income of $649 million, or 55 cents per share, compared with $982 million, or 84 cents per share, a year earlier.

Analysts expected earnings of 64 cents per share, according to Thomson Reuters I/B/E/S.

Revenue dropped 10 percent to $14.51 billion. Analysts expected $15.69 billion in revenue.

Sales fell in all Dow's businesses except agricultural sciences, where demand for pesticides and other farming products jumped during the North American spring planting season.

(Editing by Bernadette Baum)

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