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.
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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