Goodyear’s Second-Quarter Earnings Slip
Goodyear Tire & Rubber Co.'s adjusted net income in April-June fell 10% to $192 million.
#economics
Goodyear Tire & Rubber Co.'s adjusted net income in April-June fell 10% to $192 million. Pretax income grew 12% to $328 million, led by a 54% jump for the company's North American operations.
Unit sales in the second quarter advanced 1% to 40.8 million tires worldwide, as gains in North America and Asia Pacific offset a 2% decline elsewhere. But revenue dropped 10% to $4.2 billion, largely because of $401 million in unfavorable currency effects.
Goodyear's revenue through the first six months of 2015 dropped 10% to $8.2 billion. Operating income rose 14% to a record $947 million. Unit sales advanced 1% to 81.6 million units.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.