Goodyear: 4Q Earnings Snapshot
AKRON, Ohio (AP) _ The Goodyear Tire & Rubber Co. (GT) on Tuesday reported fourth-quarter net income of $63 million, after reporting a loss in the same period a year earlier.
The Akron, Ohio-based company said it had profit of 27 cents per share. Earnings, adjusted for non-recurring costs, were 44 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The tire maker posted revenue of $3.66 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $3.59 billion.
Goodyear shares have climbed 17% since the beginning of the year, while the Standard & Poor’s 500 index has risen 4%. The stock has declined almost 5% in the last 12 months.