Equity Research on Goodyear Tire & Rubber Co. and Cooper Tire & Rubber Co. - Rubber and Plastics Third Quarter Mixed, Europe Remains a Drag
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 11/07/12 -- Companies in the rubber and plastics industry, such as The Goodyear Tire & Rubber Co. and Cooper Tire & Rubber Co., have been reporting their quarterly earnings recently. Financial results for the period have been somewhat mixed, as while strong auto sales in the U.S. and lower input costs have been a positive for many companies, softness in Europe and unfavorable currency translation have been headwinds. Get your free reports on and at . There is no commitment to join.
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Cooper Tire and Rubber impressed with its third quarter net income of $1.17 a share, well above last year's $0.27 per share. The company attributed the gains in part to lower raw-material costs, which declined 13 percent compared to the second quarter. Higher prices and volumes, though not in Europe, also contributed to the company's positive results. report is accessible for free by registering today at
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Meanwhile, Goodyear announced a 30 percent year-over-year dip in profits to 41 cents per share. The company has been successfully implementing cost-cutting measures and grew revenue per tire by 5 percent by improving its price/mix. However, tire volumes declined due to European woes. report is accessible for free by registering today at
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Datum: 07.11.2012 - 13:05 Uhr
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