Goodyear: 3Q Earnings Snapshot
AKRON, Ohio (AP) _ The Goodyear Tire & Rubber Co. (GT) on Friday reported third-quarter earnings of $351 million.
The Akron, Ohio-based company said it had net income of $1.48 per share. Earnings, adjusted for non-recurring gains, came to 68 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The tire maker posted revenue of $3.93 billion in the period.
Goodyear shares have dropped 36 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 1 percent. The stock has declined 39 percent in the last 12 months.