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Goodyear’s Second-Quarter Earnings Slip
Goodyear Tire & Rubber Co.'s adjusted net income in April-June fell 10% to $192 million.
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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.
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