Analysts expect higher profit for Goodyear Tire & Rubber when the company reports its second quarter results on Wednesday, July 30, 2014. The consensus estimate is calling for profit of 80 cents a share, reflecting a rise from 76 cents per share a year ago.
Over the past three months, the consensus estimate has sagged from 82 cents. Analysts are expecting earnings of $2.85 per share for the fiscal year. Analysts look for revenue to decrease 3% year-over-year to $4.75 billion for the quarter, after being $4.89 billion a year ago. For the year, revenue is projected to roll in at $18.89 billion.
Revenue has fallen in each of the last four quarters. Revenue declined 9% to $4.47 billion in the first quarter. The figure fell 5% in the fourth quarter from the year earlier, dropped 5% again in the third quarter from the year-ago quarter and 5% once more in the second quarter.
Goodyear Ti’s loss in the last quarter followed profits in the previous two quarters.
Analysts are split on Goodyear Ti, but two of eight analysts rate it hold.
Another company in the consumer cyclical sector reporting earnings soon is Cooper Tire & Rubber. Cooper Tire & Rubber is expected to report earnings of 59 cents per share on Thursday, August 7, 2014.
Earnings estimates provided by Zacks.
– forbes.com
