Goodyear Tire & Rubber Co reports results for the quarter ended in June - Earnings Summary

Goodyear Tire & Rubber

31/07/2024 22:52

* Goodyear Tire & Rubber Co  GT.OQ  reported quarterly
adjusted
earnings of 19 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of -34 cents.  The mean expectation of
eight analysts for the quarter was for earnings of 13 cents per
share. Wall Street expected results to range from -1 cents to 19
cents per share.
    * Revenue fell 7.6% to $4.57 billion from a year ago;
analysts
expected $4.78 billion. 
    * Goodyear Tire & Rubber Co's reported EPS for the quarter
was 30
cents​.
    * The company reported quarterly net income of $85 million.
    * Goodyear Tire & Rubber Co shares had risen by 2.1% this
quarter and lost 19.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 33.9%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the tires &
rubber
products peer group is also "buy"

Wall Street's median 12-month price target for Goodyear Tire &
Rubber Co is $14.10 
This summary was machine generated from LSEG data July 31 at
09:52 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.13           0.19           Beat
 Mar. 31 2024      0.01           0.10           Beat
 Dec. 31 2023      0.36           0.47           Beat
 Sep. 30 2023      0.19           0.36           Beat