The Goodyear Tire & Rubber Company (GT) reported an increase in profit for the third quarter that also topped Wall Street estimates. Sales were up 42% from a year ago, driven by the Cooper Tire merger, improvements in price/mix, increased sales from other tire-related businesses and higher volume.
Third quarter adjusted net income per share was $0.72 compared to $0.10, last year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.29, for the quarter. Analysts' estimates typically exclude special items. Net income was $132 million or $0.46 per share compared to a net loss of $2 million or $0.01 per share.
Sales were $4.9 billion, up 42% from a year ago. Analysts on average had estimated $4.75 billion in revenue. Excluding the Cooper Tire transaction, growth was 16%. Tire unit volumes were 48.2 million, up 32% from last year.
Shares of Goodyear Tire & Rubber Company were up 12% in pre-market trade on Friday.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.