Dow Inc. (DOW) official guidance

So that's $1.2 billion of incremental Transform to Outperform uplift in 2027, and then about another $100 million of incremental gains from our asset actions.

we remain focused on our commitment to implement approximately $1.3 billion in net benefits this year, as well as $1.3 billion in 2027.

we remain focused on our commitment to implement approximately $1.3 billion in net benefits this year, as well as $1.3 billion in 2027.

Additionally, we expect to deliver approximately $100 million of sequential uplift from our self-help actions, including our transformation and ongoing benefits from the closure of our Barry siloxanes unit.

Transform to Outperform continues to deliver benefits ahead of our initial schedule, and we remain on track to achieve approximately $700 million in growth and productivity improvements this year.

So that's $1.2 billion of incremental Transform to Outperform uplift in 2027, and then about another $100 million of incremental gains from our asset actions.

At the same time, we are driving productivity improvements of approximately $150 million in benefits in the second half of this year.

As we think about our cash conversion going into the next year, we're going to maintain that discipline around working capital, which should continue to give us a cash conversion rate that's going to be in the range of anywhere from, let's say, 70%-80% as we go through next year, which will position us well to be able to support our capital allocation framework.

Together with the March 2027 euro bond maturity, these combined actions are expected to retire approximately $1.4 billion of debt.

Listen, I do want to highlight that as we enter 2027, to your point, $1.3 billion of earnings tailwinds are going to be firmly in our control.

For the fourth quarter, we expect EBITDA of approximately $1.5 billion.

In Packaging & Specialty Plastics, we anticipate global polyethylene integrated margins to improve by approximately $0.02 per pound compared to the third quarter.

Longer term, we expect gradual operating rate improvement through 2030, but that is our view on fourth quarter right now.

We anticipate the seasonality that we typically see in the fourth quarter will be largely offset by more than $100 million of lower sequential turnaround spending.

In addition, we captured sequential gains from the first of our three European asset shutdowns, where the total benefits are expected to build through 2027.

Specific to the transformation, we are on track to achieve the upsized $700 million in growth and productivity benefits in 2026, as well as the approximately $2 billion in total uplift by the end of next year.

These priorities are underpinned by our self-help actions, which are on track to deliver more than $1 billion of EBITDA uplift in both 2026 and 2027.

These priorities are underpinned by our self-help actions, which are on track to deliver more than $1 billion of EBITDA uplift in both 2026 and 2027.

Overall, $3 billion of self-help, largely independent from the market macro, all to deliver by 2029 if you include the European asset actions.

The third one is Transform to Outperform. Just as a reminder, two-thirds of that's coming from productivity, one-third of that is coming from growth, and that's the $2 billion that we're committed to delivering by 2028.