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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   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.