Dow forecasts quarterly core profit slightly above estimates, warns of Middle East uncertainty

"For July, we judge net tension in the U.S. contract price as remaining to the downside, although recent increases in Brent crude oil prices mitigate risk perhaps," Vertical Research Partners analyst Kevin McCarthy said.

Quarterly net sales from its packaging and specialty plastics segment rose 27% to $6.4 billion from a year earlier, driven by higher polyethylene prices.

The Michigan-based company reported an adjusted profit of $1.44 per share for the quarter ended June 30, beating analysts' average estimate of $1.28 per share.

(Reporting by Pooja Menon in Bengaluru; Editing by Joyjeet Das and Sriraj Kalluvila)

July 23 (Reuters) - Dow Inc forecast third-quarter core profit slightly above Wall Street expectations, while warning that the quarter ahead remains difficult to predict as the U.S.-Iran conflict continues to create uncertainty across several end markets.