Goodyear reports net income of 75 million USD in Q1
The Goodyear Tire & Rubber Company today reported results for the first quarter of 2018. 2018-05-10 13:24:54
Goodyear's first quarter 2018 sales were 3.8 billion USD, up 4 percent from a year ago. Tire unit volumes totaled 39 million, down 2.5 percent from 2017. Original equipment unit volume was down 4 percent, primarily driven by declines in the less-than-17-inch rim size segment in EMEA. Replacement tire shipments were down 2 percent, largely due to reduced industry demand for consumer tires in the U.S. and Europe.
Goodyear's first quarter 2018 net income was 75 million USD (31 cents per share), down from 166 million USD (65 cents per share) a year ago. First quarter 2018 adjusted net income was 122 million USD (50 cents per share), compared to 189 million USD (74 cents per share) in 2017. Per share amounts are diluted.
The company reported first quarter segment operating income of 281 million USD in 2018, down from 390 million USD a year ago. The decrease was driven by the impact of higher raw material costs.
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