The Dow Chemical Company
) announced that its POWERHOUSE Solar Shingles will be available
to homeowners in New York, Connecticut, Maryland, Massachusetts,
Washington D.C., Louisiana and Michigan. The POWERHOUSE solar
shingles were available in Colorado, Northern California and
Central Texas since early 2012.
The POWERHOUSE solar shingle has some unique features. It
includes a custom designed array that complements the style of
the homeowners while fulfilling their energy saving goals. It
comes with a solar inverter that converts Direct Current (DC)
into Alternating Current (AC) to cater to homes' power needs. The
system also helps to monitor real-time energy production from an
internet connection. POWERHOUSE solar shingle system is certified
as both solar and roofing product.
Dow is collaborating with DR Horton in Denver and Imagine
Homes in San Antonio for creating solar communities using
POWERHOUSE as a standard feature in their new homes. As a result,
three green homebuilding technology leaders including McStain
Neighborhoods, Brookfield Residential, and Cobblestone Homes,
have come forward to promote Dow POWERHOUSE.
McStain Neighborhoods - an award-winning Denver-Boulder
developer and homebuilder - will offer Dow POWERHOUSE as an
upgrade option at their Indian Peaks South neighborhood in
Lafayette, Colorado. Secondly, the homebuilding division of
Brookfield Residential - recognized for quality, design and
lifestyle building - will offer Dow POWERHOUSE as a standard
feature in their homes at Midtown, a new community near downtown
Denver. Lastly, Cobblestone Homes, an authorized dealer of the
product, will feature Powerhouse shingles in its new models in
the mid-Michigan market.
Last month, Dow released its third quarter 2012 results. The
company earned 42 cents a share in the quarter, down from 69
cents (or 62 cents excluding special items) a year ago. However,
earnings in the quarter topped the Zacks Consensus Estimate of 37
cents. Dow's profit tumbled 39% year over year to $497 million as
lower pricing dragged down its sales in the quarter. The company
also witnessed weak demand for its products in the quarter,
largely stemming from the recessionary conditions in Europe.
Revenues slipped 9.7% (or 7% on an adjusted basis) year over year
to $13,637 million in the quarter, missing the Zacks Consensus
Estimate of $14,130 million. Sales fell across all segments
except Agricultural Sciences, which was the only bright spot in
the quarter. Revenues in Europe slid 10%, largely due to
unfavorable currency translation.
The company competes with
EI DuPont de Nemours & Co.
) and currently retains a Zacks #3 Rank that translates to a
short-term (1 to 3 months) Hold rating. We currently have a
long-term (more than 6 months) Neutral recommendation on the
DU PONT (EI) DE (DD): Free Stock Analysis
DOW CHEMICAL (DOW): Free Stock Analysis
To read this article on Zacks.com click here.