Dow swung to a profit in the second quarter as higher prices supported a rise in net sales. The materials science and chemicals company on Thursday posted a net income of $802 million, or 99 cents a share, compared with a loss of $801 million, or $1.18 a share, in the same quarter a year ago.

Operating earnings, an adjusted figure which excludes one-off costs and exceptional items, came to $1.44 a share, ahead of the $1.28 a share that analysts were expecting, according to Fact Set.

Net sales rose 20% to $12.09 billion, topping forecasts of a rise to $12.03 billion.