Goodyear reports Q4 results

Goodyear reports Q4 results GOODYEAR Tyre & Rubber Company reported fourth quarter EPS of US$ 0.03, ex-items, versus estimates of US$ 0.20.

Revenues in the quarter rose 12% year-over-year to US$ 5.68 billion, missing estimates of US$ 5.88 billion.

Richard J. Kramer, chairman and chief executive officer said, “I am very pleased with our record sales and segment operating income performance in 2011 as we successfully managed a challenging economic environment. With full-year segment operating income of nearly US$ 1.4 billion worldwide and US$ 276 million in North American Tyre, its best performance since 2000, we made strong progress toward our 2013 targets.”

Goodyear Tyre & Rubber has potential upside of 25.3% based on a current price of US$ 13.97 and an average consensus analyst price target of US$ 17.50.

Source: Financial News Online