The Goodyear Tire & Rubber Company (GT - Free Report) is a leading manufacturer, retailer and distributor of tires and rubber-related chemicals for various applications.
Earnings
In the second-quarter, Goodyear reported adjusted earnings of 62 cents per share, beating the Zacks Consensus Estimate of 56 cents. The adjusted earnings in the year-ago quarter were 70 cents.
Revenues
Goodyear reported net revenue of $3.84 billion, higher than $3.70 billion recorded in the year-ago quarter. However, the figure missed the Zacks Consensus Estimate of $3.9 billion.
Estimate Trend & Surprise History
Earnings estimate for Goodyear for the second quarter went down 5.1% over the past one month. In three out of the four trailing quarters, Goodyear reported positive earnings surprise while missing the estimate on one occasion. The company has delivered average positive earnings surprise of around 11.8%.
Key Stats/Developments to Note
Goodyear has reduced its 2018 segment operating income to the range of $1.45-$1.5 billion, considering a $70 million headwind due to softening market conditions in China, a $130 million increase in raw material costs and unfavorable foreign currency swing of $60 million.
Zacks Rank
Goodyear holds a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released. Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on Goodyear’s earnings report!
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The Goodyear Tire & Rubber Company (GT - Free Report) is a leading manufacturer, retailer and distributor of tires and rubber-related chemicals for various applications.
Earnings
In the second-quarter, Goodyear reported adjusted earnings of 62 cents per share, beating the Zacks Consensus Estimate of 56 cents. The adjusted earnings in the year-ago quarter were 70 cents.
Revenues
Goodyear reported net revenue of $3.84 billion, higher than $3.70 billion recorded in the year-ago quarter. However, the figure missed the Zacks Consensus Estimate of $3.9 billion.
Estimate Trend & Surprise History
Earnings estimate for Goodyear for the second quarter went down 5.1% over the past one month. In three out of the four trailing quarters, Goodyear reported positive earnings surprise while missing the estimate on one occasion. The company has delivered average positive earnings surprise of around 11.8%.
Key Stats/Developments to Note
Goodyear has reduced its 2018 segment operating income to the range of $1.45-$1.5 billion, considering a $70 million headwind due to softening market conditions in China, a $130 million increase in raw material costs and unfavorable foreign currency swing of $60 million.
Zacks Rank
Goodyear holds a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released. Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on Goodyear’s earnings report!
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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