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.
North American business continued to perform at record levels with segment operating margin of more than 10%.
