Goodyear is reporting second quarter revenue down 4% to US$4.7bn, although tyre unit volumes rose 3% to 40.6m.
“We delivered record second quarter results, driven by strong consumer replacement volumes in all of our regions where our new products are in demand,” said Goodyear chairman and CEO, Richard Kramer.
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“Our performance in the first half, which was achieved through a balance of volume growth and cost reduction, gives us confidence our strategy is working and we are on track to attain our 2014-2016 financial targets.”
Replacement tyre shipments were up 6% with growth in all four regions. Original equipment unit volume was down 4% , primarily in Latin America.
The company reported record segment operating income of US$460m in the second quarter of 2014.
That was up 7% from the year-ago quarter driven by significant improvement in Europe, Middle East and Africa, which offset softness in emerging markets.
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By GlobalDataNorth American business continued to perform at record levels with segment operating margin of more than 10%.
