Strong US 4Q leads Goodyear earnings

Goodyear's shares have risen more than three per cent after the tyre company's results beat Wall Street estimates.

Strong fourth-quarter results in Goodyear's core North American market helped the tyre maker beat Wall Street estimates.

Its shares rose more than three per cent.

The Akron-based company said on Thursday it earned $US228 million ($A253.29 million), or 84 cents per share, on sales of $US4.8 billion.

After one-time charges, Goodyear earned 74 cents, beating the Wall Street estimate of 65 cents.

The company had broken even on sales of $US5 billion in the last quarter of 2012.

In the most recent quarter, Goodyear's North American segment operating income rose 72 per cent to $US199 million.

The number of tyres sold worldwide increased two per cent to 40.7 million.

With a new labour agreement, Goodyear said it has halted production at an Amiens, France, factory with a contentious past and will close it by March.


1 min read

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Source: AAP


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