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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.

Thursday, February 21, 2019

Preferred Compounding relaunches Glo-Mold as GloMoldPlus. - click to expand

ARPM’s state of industry report reveals steady outlook for rubber manufacturers - click to expand

Ace Products & Consulting honored as a 2018 Cleveland Technology Award recipient - click to expand

Shoe insert market forecast at $53.1 billion by 2027 - click to expand

Sealing and strapping packaging tapes market is forecast at $22.1 billion by 2023 - click to expand

Wednesday, February 20, 2019

Cooper Tire and the United Steelworkers ratify new contract for Clarksdale, MS, facility - click to expand

Freudenberg Sealing Technologies launches new test stands for seals for electric powertrains - click to expand

Eastman Technology to present at the Tire Technology Expo in Hannover, Germany - click to expand

Acmos Chemie hires Ralph Lopez as vice president and general manager of newly formed rubber division - click to expand

Bridgestone Retail Operations raises nearly $2.8 million to support Boys & Girls Clubs of America - click to expand

Tuesday, February 19, 2019

3D Systems launches rubber-like 3D printing material for FabPro 1000 - click to expand

Adhesive tape market forecast at $73.5 billion by 2024 - click to expand

Cooper Tire announced its 188th consecutive quarterly dividend of 10.5 cents - click to expand

Yokohama Rubber increases sales for 2018, but decreases in profit - click to expand

Michigan Rubber Group announces speakers for its meeting in Grand Rapids Michigan for March 6, 2019 - click to expand

Cooper Tire and the United Steelworkers ratify new contract for Clarksdale, Mississippi facility - click to expand

Monday, February 18, 2019

Global elastomeric foam market forecast to reach $1.75 billion by 2023 - click to expand

Goodyear and Local Motors join forces on autonomous shuttles - click to expand

Canadian manufacturing activity declined in December - click to expand

Nokian Tyres selected as one of the most sustainable companies in the world - click to expand

Friday, February 15, 2019

Iowa State University researchers find method to improve rubber stability in asphalt - click to expand

Nokian Tyres begins hiring for new factory in Dayton, Tennessee - click to expand

Book of the Day: USA Rubber & Tire Industry Patents 2015-2017 - click to expand

Global surgical gloves market forecast at $1.7 billion by 2025 - click to expand

OTR tire market forecast to reach $7.2 billion by 2024 - click to expand

Thursday, February 14, 2019

American Sustainable Rubber Company appoints Timothy Madden as president - click to expand

Silicone and Thermoplastic Elastomers 2019 U.S. Summit abstracts due Friday, February 15 - click to expand

Nouryon completes organic peroxides expansion in Mexico - click to expand

Global silicone market forecast to reach $18.8 billion by 2022 - click to expand

Global medical tubing market forecast with a CAGR of 8.4 percent through 2026 - click to expand

Market Reports

Shoe insert market forecast at $53.1 billion by 2027 - click to expand

Sealing and strapping packaging tapes market is forecast at $22.1 billion by 2023 - click to expand

Adhesive tape market forecast at $73.5 billion by 2024 - click to expand

Global elastomeric foam market forecast to reach $1.75 billion by 2023 - click to expand

Global surgical gloves market forecast at $1.7 billion by 2025 - click to expand

OTR tire market forecast to reach $7.2 billion by 2024 - click to expand

Global silicone market forecast to reach $18.8 billion by 2022 - click to expand

Global silicon metal market forecast with a CAGR of 4.4% through 2025 - click to expand

Global medical tubing market forecast with a CAGR of 8.4% through 2026 - click to expand

Isoprene rubber latex market forecast to reach $1.17 billion by 2028 - click to expand

Bio-based polymers forecast to grow with a CAGR of 4 percent through 2023 - click to expand

Global aircraft tire market forecast to reach 2.51 billion by 2024 - click to expand

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