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Goodyear (GT) Q2 Earnings Beat, Revenues Miss Estimates


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The Goodyear Tire & Rubber Company GT is a leading manufacturer, retailer and distributor of tires and rubber-related chemicals for various applications.

Earnings

In the second-quarter, Goodyear reported adjusted earnings of 62 cents per share, beating the Zacks Consensus Estimate of 56 cents. The adjusted earnings in the year-ago quarter were 70 cents.

Revenues

Goodyear reported net revenue of $3.84 billion, higher than $3.70 billion recorded in the year-ago quarter. However, the figure missed the Zacks Consensus Estimate of $3.9 billion.

The Goodyear Tire & Rubber Company Price and EPS Surprise

The Goodyear Tire & Rubber Company Price and EPS Surprise | The Goodyear Tire & Rubber Company Quote

Estimate Trend & Surprise History

Earnings estimate for Goodyear for the second quarter went down 5.1% over the past one month. In three out of the four trailing quarters, Goodyear reported positive earnings surprise while missing the estimate on one occasion. The company has delivered average positive earnings surprise of around 11.8%.

Key Stats/Developments to Note

Goodyear has reduced its 2018 segment operating income to the range of $1.45-$1.5 billion, considering a $70 million headwind due to softening market conditions in China, a $130 million increase in raw material costs and unfavorable foreign currency swing of $60 million.

Zacks Rank

Goodyear holds a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released. Meanwhile, you can see  the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

Check back later for our full write up on Goodyear's earnings report!

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The Goodyear Tire & Rubber Company (GT): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Earnings , Investing Ideas , Stocks
Referenced Symbols: GT



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