Goodyear Tire & Rubber earnings projected to increase

Goodyear-Tire-&-Rubber

Wall Street is high on Goodyear Tire & Rubber, expecting it to report earnings that are up 62% from a year ago when it reports its fourth-quarter earnings on Thursday, February 13, 2014. The consensus estimate is 63 cents per share, up from earnings of 39 cents per share a year ago.

Over the past three months, the consensus estimate has sagged from 65 cents. For the fiscal year, analysts are expecting earnings of $2.51 per share. After being $5.05 billion a year ago, analysts project revenue to drop 2% year-over-year to $4.95 billion for the quarter. For the year, revenue is expected to come in at $19.76 billion.

The company has reported decreasing revenue in the last three quarters. In the third quarter, revenue declined 1% to $5 billion while the figure fell 5% in the second quarter from the year earlier and 12% in the first quarter.

Another company in the consumer cyclical sector reporting earnings soon is Cooper Tire & Rubber. Cooper Tire & Rubber is expected to report earnings of 48 cents per share on Monday, February 24, 2014.

Source: Forbes
Published: 12 Feb 2014