The Goodyear Tyre & Rubber Company on Tuesday reported record third quarter sales up 3% year on year to $US5.1bn, offsetting lower volumes with higher prices and a richer product mix.
Go deeper with GlobalData
Improved pricing and product mix in all five business units drove revenue per tyre up 7% over the 2006 quarter, the company said. Lower volumes reflect the decision to exit some private label tyre business in North America, along with weak markets.
The company achieved a gross margin of 20% in the quarter, up from 17.4% a year ago.
The three emerging markets businesses increased sales 15% and segment operating income 24% over last year.
Third quarter 2007 income from continuing operations was $159m (67 cents per share) compared to a third quarter 2006 loss of $76m (43 cents per share).
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataGoodyear had third quarter 2007 net income of $668m ($2.75 per share), which includes discontinued operations of $509m ($2.08 per share). Included in discontinued operations was an after-tax gain of $517m ($2.12 per share) on the sale of the company’s engineered products business. In the third quarter of 2006, the company had a net loss of $48m (27 cents per share).
