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Goodyear Tire & Rubber Co  (GT)
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    Sector  Consumer Discretionary    Industry Tires
 
 

EARNINGS REPORT by CSIMarket

Income Positive Again, Revenue Dipped


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Goodyear Tire & Rubber Co announced first quarter 2017 operating income of $326 millions



first quarter 2017 was profitable despite lower revenues, earnings turn positive to $0.65 per share compare to $-1.41 loss, while Sales declined by -8.96 % to $3.70 billions from $4.06 billions, compare to first quarter 2017 a year ago.

In the previous quarter company realized Sales of $3.44 billions and bottom line of $1.94 per share.
Sales have contracted due the decrease in revenues in North American Tire -3.84%, European Union Tire -17.92%, Latin American Tire -6.87%, Asia Tire -13.75%, Total Tires -10.16%.
The results were mixed, where strenght in North American Tire, Latin American Tire, Tires segments, outweighed profit decline in European Union Tire and Asia Tire. All of this helped company to achieve profit of $169 millions in the first quarter 2017, from net loss of $-373 millions in first quarter 2017 a year before. Goodyear Tire & Rubber Co also emphasized it's improving profit margins, where net margin rose to 4.57% in first quarter 2017, and operating margin edged up to 8.81%.

Analysing further company's results, an astounding rise of 49.86% in North American Tire Profit Per Unit Sold to 20.71 $ explains the first quarter 2017 performance.
Continuing with Goodyear Tire & Rubber Co's first quarter 2017 report, company pointed out increase in: North American Tire Units Sold (millions) 15.60 up 2.63 %, Total Tire Units Sold (millions) 42.50 up 1.43 %.
Whereas Latin American Tire Avg. Sales Price posted highest contraction, other declines where in, EMEA Tire Units Sold down -1.22 %, report shows.
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