Dow’s second-quarter net sales fell to $10.9 billion, down 4% versus the year-ago period, the company reported on July 25.

The company warned in its outlook that demand will likely remain slow throughout 2024.

“As we look to the second half of the year, Team Dow is focused on continuing to deliver sequential earnings improvements while navigating through the slower macro environment we remain in,” said CEO Jim Fitterling, in a news release. “While near-term demand in many markets that we serve is growing, building and construction and consumer durables are unlikely to significantly change in 2024. We will continue driving higher sales through our innovation portfolio and diverse product mix. And, through leveraging our global scale, strategically advantaged cost positions, and counter-cyclical growth investments, we remain on track to enable higher earnings and shareholder returns.”