Dow (DOW) reported Q1 operating earnings Thursday of $0.02 per diluted share, down from $0.56 a year earlier.

Analysts polled by FactSet expected a loss of $0.02.

Net sales for the quarter ended March 31 was $10.43 billion, down from $10.77 billion a year earlier.

Analysts surveyed by FactSet expected $10.24 billion.

Shares of the chemical manufacturer were up more than 3% in recent premarket activity.