Goodyear beats 3Q profit forecasts

AKRON, Ohio – AKRON, Ohio (AP) _ The Goodyear Tire & Rubber Co. (GT) on Friday reported third-quarter net income of $317 million.

On a per-share basis, the Akron, Ohio-based company said it had profit of $1.19. Earnings, adjusted for non-recurring gains, came to $1.17 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.

The tire maker posted revenue of $3.85 billion in the period.

Goodyear shares have decreased almost 5 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 4 per cent. The stock has decreased slightly more than 4 per cent in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on GT at


Keywords: Goodyear, Earnings Report, Priority Earnings