The Goodyear Tire & Rubber Company stock price

The Goodyear Tire & Rubber Company latest news:


  • 02/08/2018 09:12:00

    Goodyear cuts 2020 forecast as raw material costs rise

    * Sees 2020 segment operating income of $2 bln-$2.4 bln. * Sees 2018 tire sales up 3 pct, Q1 tire sales flat. * Shares down ~3 pct in morning trade. By Arunima Banerjee. Goodyear Tire & Rubber Co (GT) on Thursday cut its 2020 forecast for combined earnings of its three units amid higher prices for raw materials, overshadowing better-than-expected quarterly profit and revenue.

  • 02/08/2018 07:12:13

    Goodyear Tires profit beats views as sales rise more than expected

    Shares of Goodyear Tire & Rubber Co. were little changed in premarket trade Thursday, after the tire maker reported fourth-quarter profit and revenue that beat expectations. For the quarter to Dec. 31, the company swung to a net loss of $96 million, or 39 cents a share, from a profit of $561 million, or $2.14 a share, in the same period a year ago. Excluding non-recurring items, such as a $299 million non-cash charge related to recent tax legislation, adjusted earnings per share was 99 cents, beating the FactSet consensus of 76 cents. Revenue rose 9% to $4.07 billion from $3.74 billion, above the FactSet consensus of $3.96 billion, as tire unit volumes rose 2%, replacement tire shipments increased 3% and original equipment unit volumes fell 1%. "Our fourth-quarter results were highlighted by our performance in the 17-inch-and-larger segment in consumer replacement, which delivered nearly double the industry growth in the U.S. and Europe," said Chief Executive Richard Kramer. "Our strong volume recovery in the quarter gives us positive momentum as we head into 2018." The stock has climbed 14.5% over the past three months, while the S&P 500 has gained 3.4%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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