Cooper Tire & Rubber Company Reports Fourth Quarter and Full Year 2017 Results
COOPER TIRE & RUBBER (CTB)
Last cooper tire & rubber earnings: 2/24 07:00 am
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US:NYSE Investor Relations:
us.coopertire.com
Company Research
Source: Business Wire
FINDLAY, Ohio--(BUSINESS WIRE)-- Cooper Tire & Rubber Company (NYSE: CTB) today reported full year 2017 net income of $95 million, or diluted earnings per share of $1.81, compared with $248 million, or $4.51 per share, last year. The 2017 results include $68 million of discrete tax items recorded in the fourth quarter, primarily related to the impact of tax reform in the United States. Excluding these discrete tax items, earnings per share would have been $3.10. Full Year 2017 Highlights: Consolidated unit volume decreased 0.5 percent year over year, as challenging conditions led to a unit volume decline in the U.S., which was nearly offset by a strong unit volume increase in Asia. Net sales were $2.85 billion compared with $2.92 billion in 2016. Operating profit of $272 million, or 9.5 percent of net sales, was near the high end of the company’s previously issued mi
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