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Goodyear (GT) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Goodyear (GT - Free Report) reported $4.87 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 6.6%. EPS of -$0.34 for the same period compares to $0.46 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.19 billion, representing a surprise of -6.30%. The company delivered an EPS surprise of -326.67%, with the consensus EPS estimate being $0.15.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Goodyear performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Tire units - Americas: 20.8 million versus the two-analyst average estimate of 23.23 million.
Tire units - Asia Pacific Tire: 8.2 million versus 8.62 million estimated by two analysts on average.
Tire units - Europe Middle East and Africa Tire: 11.8 million versus the two-analyst average estimate of 12.72 million.
Tire units - Total: 40.8 million versus 44.56 million estimated by two analysts on average.
Net Sales- Americas: $2.94 billion compared to the $3.29 billion average estimate based on two analysts. The reported number represents a change of -6.6% year over year.
Net Sales- Asia Pacific: $587 million versus the two-analyst average estimate of $618.70 million. The reported number represents a year-over-year change of +3.4%.
Net Sales- Eastern Europe Middle East and Africa: $1.34 billion versus the two-analyst average estimate of $1.39 billion. The reported number represents a year-over-year change of -10.4%.
Shares of Goodyear have returned +16.6% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Goodyear (GT) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Goodyear (GT - Free Report) reported $4.87 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 6.6%. EPS of -$0.34 for the same period compares to $0.46 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.19 billion, representing a surprise of -6.30%. The company delivered an EPS surprise of -326.67%, with the consensus EPS estimate being $0.15.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Goodyear performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Tire units - Americas: 20.8 million versus the two-analyst average estimate of 23.23 million.
- Tire units - Asia Pacific Tire: 8.2 million versus 8.62 million estimated by two analysts on average.
- Tire units - Europe Middle East and Africa Tire: 11.8 million versus the two-analyst average estimate of 12.72 million.
- Tire units - Total: 40.8 million versus 44.56 million estimated by two analysts on average.
- Net Sales- Americas: $2.94 billion compared to the $3.29 billion average estimate based on two analysts. The reported number represents a change of -6.6% year over year.
- Net Sales- Asia Pacific: $587 million versus the two-analyst average estimate of $618.70 million. The reported number represents a year-over-year change of +3.4%.
- Net Sales- Eastern Europe Middle East and Africa: $1.34 billion versus the two-analyst average estimate of $1.39 billion. The reported number represents a year-over-year change of -10.4%.
View all Key Company Metrics for Goodyear here>>>Shares of Goodyear have returned +16.6% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.