Daily Journal masthead

Goodyear reports 4th-quarter loss of $380 million

bug
Share/Save/Bookmark

AKRON, Ohio — The Goodyear Tire & Rubber Co. (GT) on Tuesday reported a fourth-quarter loss of $380 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Akron, Ohio-based company said it had a loss of $1.42. Earnings, adjusted for non-recurring costs, came to 93 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.

The tire maker posted revenue of $4.06 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $4.02 billion.

PHOTO: FILE - In this Friday, Feb. 5, 2016, file photo, the Goodyear Blimp Spirit of Innovation takes off for a flight over Super Bowl fan sites from the airport in Livermore, Calif. On Tuesday, Feb. 9, 2016, Goodyear Tire reports financial results. (AP Photo/Eric Risberg, File)
FILE - In this Friday, Feb. 5, 2016, file photo, the Goodyear Blimp Spirit of Innovation takes off for a flight over Super Bowl fan sites from the airport in Livermore, Calif. On Tuesday, Feb. 9, 2016, Goodyear Tire reports financial results. (AP Photo/Eric Risberg, File)

Goodyear shares have fallen 19 percent since the beginning of the year, while the Standard & Poor's 500 index has decreased slightly more than 9 percent. The stock has climbed roughly 4 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GT at http://www.zacks.com/ap/GT

_____

Keywords: Goodyear, Earnings Report, Priority Earnings

Think your friends should see this? Share it with them!

Story copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow Daily Journal:

All content copyright ©2016 Daily Journal, a publication of AIM Media Indiana unless otherwise noted.
All rights reserved. Privacy policy.