GOODYEAR TIRE & RUBBER CO. $33.45 (Nasdaq symbol GT; TSINetwork Rating: Extra Risk) (330-796-2122; www.goodyear.com; Shares outstanding: 268.9 million; Market cap: $8.7 billion; Dividend yield: 0.8%) is the world’s largest tire maker, with 52 plants in 22 countries.
In the three months ended September 30, 2015, Goodyear’s revenue fell 10.2%, to $4.18 billion from $4.66 billion a year earlier. The rising U.S. dollar cut the value of the company’s foreign sales (particularly in Europe and Brazil) by $430 million.
Earnings rose 12.0%, to $271.0 million, or $0.99 a share. A year earlier, the company earned $242.0 million, or $0.87 a share.
Goodyear has reaffirmed its targets for the next 12 months and expects its earnings to rise 10% to 15%. The company’s costs— including for oil, rubber and other raw materials— keep falling. Plus it has a favourable labour deal with the United Steelworkers.
The stock trades at just 11.2 times the $3.00 a share the company is forecast to earn for all of 2015. It yields 0.8%.
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Privacy Policy and Terms of Use
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What personal information do we collect?
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