We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cooper Tire (CTB) Q1 Earnings & Revenues Surpass Estimates
Read MoreHide Full Article
Cooper Tire & Rubber Company has posted adjusted earnings of 22 cents per share in the first quarter of 2019, beating the Zacks Consensus Estimate of 20 cents.
The company’s net sales increased 2.9% year over year to $619 million, surpassing the Zacks Consensus Estimate of $608 million. Gross profit was $88.3 million, marking rise from $84.5 million recorded in the prior-year quarter.
Reportedly, operating profit was $26.4 million, almost in line with first-quarter 2018.
Cooper Tire & Rubber Company Price, Consensus and EPS Surprise
Americas Tire Operations registered a 6.1% increase in net sales to $515 million. Operating profit in this segment rose 24.2% to $39 million while operating margin was 7.5% compared with6.4% in the prior-year period.
International Tire Operations registered a 10.8% decline in revenues to $144 million. Operating loss was $1 million against operating income of $7 million in the year-ago quarter. Operating margin was a negative 0.9% against a positive 4.6% in the year-ago quarter.
Financial Position
At the end of the first quarter, Cooper Tire had cash and cash equivalents of $212 compared with $213 million in the year-ago quarter. Capital expenditure decreased to $60 million during the quarter, which was similar to first-quarter 2018.
Outlook
For 2019, the company reiterated the anticipation of modest growth in unit volume compared with the actual figure in 2018. It expects operating margin to improve in 2019.
PACCAR has an expected long-term growth rate of 8.4%. The company’s stock has seen the Zacks Consensus Estimate for earnings in 2019 being revised 0.16% upward over the past 30 days.
SPX Corp. has an expected current-year growth rate of 18.2%. The company’s stock has seen the Zacks Consensus Estimate for earnings in 2019 being revised 0.39% upward over the past 30 days.
Volvo has an expected long-term growth rate of 5%. The company’s stock has seen the Zacks Consensus Estimate for earnings in 2019 being revised 8.1% upward over the past 30 days.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Image: Bigstock
Cooper Tire (CTB) Q1 Earnings & Revenues Surpass Estimates
Cooper Tire & Rubber Company has posted adjusted earnings of 22 cents per share in the first quarter of 2019, beating the Zacks Consensus Estimate of 20 cents.
The company’s net sales increased 2.9% year over year to $619 million, surpassing the Zacks Consensus Estimate of $608 million. Gross profit was $88.3 million, marking rise from $84.5 million recorded in the prior-year quarter.
Reportedly, operating profit was $26.4 million, almost in line with first-quarter 2018.
Cooper Tire & Rubber Company Price, Consensus and EPS Surprise
Cooper Tire & Rubber Company Price, Consensus and EPS Surprise | Cooper Tire & Rubber Company Quote
Segment Details
Americas Tire Operations registered a 6.1% increase in net sales to $515 million. Operating profit in this segment rose 24.2% to $39 million while operating margin was 7.5% compared with6.4% in the prior-year period.
International Tire Operations registered a 10.8% decline in revenues to $144 million. Operating loss was $1 million against operating income of $7 million in the year-ago quarter. Operating margin was a negative 0.9% against a positive 4.6% in the year-ago quarter.
Financial Position
At the end of the first quarter, Cooper Tire had cash and cash equivalents of $212 compared with $213 million in the year-ago quarter. Capital expenditure decreased to $60 million during the quarter, which was similar to first-quarter 2018.
Outlook
For 2019, the company reiterated the anticipation of modest growth in unit volume compared with the actual figure in 2018. It expects operating margin to improve in 2019.
Zacks Rank & Stocks to Consider
Cooper Tire currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are PACCAR, Inc. (PCAR - Free Report) , SPX Corp. (SPXC - Free Report) and AB Volvo (VLVLY - Free Report) . PACCAR and SPX Corp. currently carry a Zacks Rank #2 (Buy) while Volvo sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PACCAR has an expected long-term growth rate of 8.4%. The company’s stock has seen the Zacks Consensus Estimate for earnings in 2019 being revised 0.16% upward over the past 30 days.
SPX Corp. has an expected current-year growth rate of 18.2%. The company’s stock has seen the Zacks Consensus Estimate for earnings in 2019 being revised 0.39% upward over the past 30 days.
Volvo has an expected long-term growth rate of 5%. The company’s stock has seen the Zacks Consensus Estimate for earnings in 2019 being revised 8.1% upward over the past 30 days.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Click to get it free >>