RSS   Newsletter   Contact   Advertise with us

Goodyear Q3 profit $351 million

Staff Writer | October 26, 2018
The Goodyear Tire & Rubber revealed earnings for its third quarter that advanced from last year.
Goodyear
Goodyear   The company's revenue for the quarter rose 0.3%
The company's bottom line came in at $351 million, or $1.48 per share. This compares with $129 million, or $0.50 per share, in last year's third quarter.

Excluding items, The Goodyear Tire & Rubber reported adjusted earnings of $163 million or $0.68 per share for the period.

The company's revenue for the quarter rose 0.3% to $3.93 billion from $3.92 billion last year.

Goodyear Tire & Rubber Co. (GT) lowered its expectations for 2018 segment operating income to reflect the "increasingly challenging" industry environment.

Goodyear Tire now expects fiscal 2018 segment operating income to exceed $1.3 billion. Earlier, the company projected full-year segment operating income to total between $1.45 billion and $1.5 billion.

The revised outlook reflects the impact of higher raw material costs, which includes the negative impact of transactional currency headwinds, further industry weakness in China and economic volatility in Brazil.


 

MORE INSIDE POST