Goodyear (GT) Q4 Earnings & Revenues Beat Estimates

The Goodyear Tire & Rubber Company GT is a leading manufacturer, retailer and distributor of tires and rubber-related chemicals for various applications.

Earnings

In the fourth-quarter, Goodyear reported adjusted earnings of 99 per share, beating the Zacks Consensus Estimate of 76 cents. The adjusted earnings in the year-ago quarter were 95 cents.

Revenues

Goodyear reported net revenue of $4.07 billion, higher than $3.74 billion recorded in the year-ago quarter. Also, the figure surpassed the Zacks Consensus Estimate of $3.91 billion.

The Goodyear Tire & Rubber Company Price and EPS Surprise

Estimate Trend & Surprise History

Investors should note that stock has witnessed an upward trend in the Zacks Consensus Estimate for the fourth-quarter earnings over the last 30 days.

In all the trailing four quarters, Goodyear delivered positive earnings surprise, leading to an average beat of around 3.7%.

Key Stats/Developments to Note

Goodyear anticipates operating income of approximately within the band $1.8 billion to $1.9 billion for 2018.

The company has also updated its 2020 segment operating income target and capital allocation plan. Under which in 2020, it expects to achieve a target of $2 to $2.4 billion in the segment operating income. Its capital allocation plan includes restructuring, growth capital, debt and pension payments and a shareholder return program.

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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