The tire maker reported a 68 percent boost in profit to $271 million, or 99 cents, per share.
Among the analysts, the highest EPS was $1.2 and the lowest was $0.99. Analysts’ estimates typically exclude special items. This was down from $4.66 billion a year ago. “The business grew its segment operating margin to more than 16% and achieved a 54% year-over-year increase in earnings driven by strong demand for our high-value-added products”.
-EPS (Q3): $0.99 vs. $0.87 a year ago.
-Revenue Change (Y-o-Y): -10.3%. The Goodyear Tire & Rubber Company is up 9.07% in the last 3-month period.
Revenues from the Asia-Pacific segment fell 14% to $458 million due to unfavorable foreign currency translation.
Goodyear had cash and cash equivalents of $1.69 billion as of Sep 30, 2015, down from $2.16 billion as of Dec 31, 2014. The share price can be expected to fluctuate from the mean short term target, can be seen from the standard deviation reading of $6.66.
Here are Goodyear’s results its North American Business Unit through the first nine months of 2015(with 2014 results in parentheses). Meanwhile, capital expenditure stood at $656 million compared with $634 million in the same period a year ago.
We’ve also learned that The Goodyear Tire & Rubber Company will report its next earnings on October 29, 2015. The company will pay $271 million to Sumitomo Rubber for the deal. The rating is an average of the various different ratings given by analysts and brokers to The Goodyear Tire & Rubber Company, and then averaged into one rating by a team of analysts at Zacks in Chicago, Illinois.
Additionally, The Goodyear Tire & Rubber Company now has a market capitalization of 9.00B.
