Dow Inc. (NYSE:DOW) shares are trading lower on Thursday after the company said during the first quarter conference call that there were supply disruptions due to the Middle East conflict.

• Dow stock is among today’s weakest performers. Why are DOW shares down?

Earnings Snapshot

Revenue fell 6% year-over-year to $9.79 billion, slightly missing the $9.646 billion estimate.

The chemical giant reported an adjusted loss of 14 cents per share, beating Wall Street’s projected 29-cent loss, according to consensus estimates.

Overall, volume fell 2% Y/Y, on declines in Industrial Intermediates & Infrastructure due to the Middle East conflict. This was due to lower merchant olefins sales in Europe, the Middle East, Africa, and India (EMEAI), following the idling of a regional cracker earlier in the year. Local price declined Y/Y in the quarter.

Jim Fitterling, Dow chair and CEO, said, “In the first quarter, our results reflect the growing impact of Dow’s self-help actions. Additionally, the margin backdrop began to positively inflect in March following global supply constraints, as impacts from the conflict in the Middle East quickly became widespread.”