UPDATE 1-Goodyear cuts 2017 forecast amid higher raw material costs [Reuters]
The Goodyear Tire & Rubber Company (GT)
Last the goodyear tire & rubber company earnings: 4/30 07:15 am
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Source: Reuters
Goodyear cuts 2017 forecast amid higher raw material costs | Reuters Reuters Staff 2 Min Read (Reuters) - Goodyear Tire & Rubber Co ( GT.O ), the largest U.S. tire maker, lowered its full-year forecast for segment operating income for the third time this year, amid higher raw material costs and weaker demand. Goodyear’s shares were down about 3 percent at $32.67 in premarket trading on Friday. Goodyear, which makes and sells tires under brands including Goodyear, Dunlop and Kelly, said it expected segment operating income - the combined earnings of its three business units - of about $1.5 billion in 2017, down from its previous forecast of $1.6 billion to $1.65 billion. The company, which also makes tires for aircraft and mining equipment, said its tire unit volume fell 5 percent in the third quarter ended Sept. 30. While original equipment unit volume fell 9 percent in the quarter, replacement tire shipments decreased 4 percent. The Akron, Ohio-based company’s main rivals include J
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- GT's page on the SEC website