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Goodyear Tire & Rubber lower post Q2 results

Published 07/28/2017, 09:05 AM
© Reuters.  Goodyear Tire & Rubber lower post Q2 results
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  • Goodyear Tire & Rubber (NASDAQ:GT) reports tire unit volume declined 10% to 37.4M in Q2.
  • Original equipment unit volume fell 8% Y/Y, driven by lower auto production.
  • Replacement tire shipments dropped 11% Y/Y.
  • Segment sales: North America: $2.03B (-3%); EMEA: $1.11B (-12%); Asia Pacific: $543M (+3%).
  • Gross margin rate contracted 320 bps to 24.3%.
  • Segment operating margin: North America: 10.5% (-340 bps); EMEA: 6.9% (-480 bps); Asia Pacific: 13.1% (-430 bps).
  • Total segment operating margin rate slipped 390 bps to 9.8%.
  • The company expects FY2017 segment operating income to be between $1.6B and $1.65B.
  • GT -8.66% premarket.
  • Now read: Carlisle Companies Inc 2017 Q2 - Results - Earnings Call Slides


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