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Goodyear reports lower sales for fourth quarter; sales up in 2018

  2/11/2019 - Akron, OH - The Goodyear Tire & Rubber Co. has reported results for the fourth quarter and full year of 2018. Goodyear’s fourth quarter 2018 sales were $3.9 billion, down 5 percent from $4.1 billion a year ago, driven by unfavorable currency translation and lower volume, the company said. These effects were partially offset by improvements in price/mix. Goodyear’s net income was $110 million, or 47 cents per share, in the fourth quarter of 2018 compared to a net loss of $96 million (39 cents per share) a year ago. Fourth quarter 2018 adjusted net income was $120 million (51 cents per share) compared to $245 million (99 cents per share) in 2017. Per share amounts are diluted. “Our teams delivered several operational wins in 2018, including increasing our consumer replacement volume and building our OE pipeline by securing numerous fitments, notably on future electric vehicles,” said Richard Kramer, chairman, CEO and president. “These achievements are a testament to our product innovation, the strength of our distribution network and the value of the Goodyear brand.” “Additionally, we achieved a number of strategic objectives throughout the year that strengthen our connected business model and move us closer to our customers, allowing us to improve our service levels and positioning us to be a leader in the changing mobility landscape. While many of the macro challenges we faced in 2018 have extended into 2019, we continue to build on what we accomplished last year and remain focused on delivering a higher level of earnings over the longer term,” Kramer said. Goodyear’s 2018 sales were $15.5 billion, up 1 percent from the prior year, driven by improvements in price/mix, partially offset by unfavorable foreign currency translation. Tire unit volumes totaled 159.2 million, unchanged from the prior year. Replacement tire shipments were up 1 percent. Original equipment unit volume was down 4 percent. Goodyear’s 2018 net income of $693 million, $2.89 per share, was up from $346 million, or $1.37 per share, in 2017. Goodyear’s net income in 2018 included a net gain after-tax and minority interest of $207 million resulting from the TireHub transaction, net of transaction costs. Goodyear’s net income in 2017 included net charges after minority interest of $292 million resulting from net discrete tax items. Full-year 2018 adjusted net income was $555 million, or $2.32 per share, down from $790 million, or $3.12 per share, a year ago.

Friday, May 24, 2019

Yokohama chosen as original equipment tire for Toyota’s new RAV4 Crossover SUV - click to expand

Arburg expands in Thailand - click to expand

Global farm tire market is projected to be worth $7.03 billion by 2026 - click to expand

Kentucky issues grants for recycled rubber tires to repave roadways - click to expand

Global hydrogel market forecast with a CAGR of 9 percent through 2024 - click to expand

Thursday, May 23, 2019

Songwon Industrial Group announces first quarter results - click to expand

NTB and Tire Kingdom continue to expand with 27 additional new locations in 2019 - click to expand

DSM and Adaptive 3D Technologies introduce 3D printable photopolymer Soft ToughRubber - click to expand

Nokia Tires launches Shop Talk for tire safety issues - click to expand

ChemSpec hires C.A.S.E. sales manager to support growing adhesive and coating lines - click to expand

Wednesday, May 22, 2019

Arburg breaks ground on facility in Lossburg, Germany - click to expand

Bridgestone's Trenton, SC, plant awarded Leadership in Energy and Environmental Design (LEED) certification - click to expand

USTMA applauds formation of Congressional Tire Caucus - click to expand

Chem-Trend announces release agent designed for automotive suppliers manufacturing clutches and brakes - click to expand

Falken Tires selected as winner of Suburu of Indiana automotive supplier award - click to expand

Tuesday, May 21, 2019

Buss Japan launches full-scale domestic sales of its continuous kneader Compeo series - click to expand

Continental EcoContact 6 is original equipment on Mercedes-Benz C-Class - click to expand

Safic-Alcan opens subsidiary in Greece - click to expand

U.S. Tire Manufacturers Association kicks off of National Tire Safety Week - click to expand

Peak Sport Products to use Cooper Standard’s Applied Materials Science Fortrex technology - click to expand

Monday, May 20, 2019

Thailand to cut rubber exports by 126,240 tons - click to expand

Registration and housing now open for the 2019 International Elastomer Conference - click to expand

Automotive all-season tires market forecast with a CAGR of about 5% by 2023 - click to expand

Titan, Kubota enter exclusivity agreement for Goodyear's R14 tires - click to expand

Global polyolefin elastomer market forecast with a CAGR of 8.7% through 2027 - click to expand

Friday, May 17, 2019

Book of the day - Fatigue, Stress and Strain of Rubber Components, by Judson Bauman - click to expand

Goodyear and Just Tires offering free care care checks for U.S. military this Memorial Day - click to expand

Nexen Tire and The Purple Heart Foundation to give away 2020 Jeep Gladiator to a combat-wounded veteran - click to expand

Bridgestone launches company's first all-weather touring tire in the U.S. and Canada - click to expand

Global automotive elastomer market forecast to reach $62.9 billion by 2024 - click to expand

Market Reports

Global silicone gel market forecast with a CAGR of 8.4% through 2024 - click to expand

Global automotive tire market forecast to reach $618 billion by 2026 - click to expand

Global carbon black market forecast to reach $25.9 billion by 2025 - click to expand

Global farm tire market is projected to worth $7.03 billion by 2026 - click to expand

Global hydrogel market forecast with a CAGR of 9% through 2024 - click to expand

Automotive all-season tires market forecast with a CAGR of about 5% by 2023 - click to expand

Global polyolefin elastomer market forecast with a CAGR of 8.7% through 2027 - click to expand

Global automotive elastomer market forecast to reach $62.9 billion by 2024 - click to expand

Global carbon black market is projected to reach $13.79 billion by 2021 - click to expand

Global adhesives and sealants market forecast with a CAGR of 5.1% through 2026 - click to expand

Latex saturated paper market forecast with at CAGR of 4.3% through 2027 - click to expand

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