Goodyear revenue falls 9% on lower shipments in Europe
By: Reuters | Feb 17 2015 at 08:40 AM | International Trade
Goodyear Tire & Rubber Co reported a 9 percent drop in quarterly revenue due to lower shipments of replacement tires in Europe, which the company blamed on a milder-than-expected winter.
Goodyear, whose brands include Dunlop, Sava and Fulda tires, said its revenue fell to $4.36 billion in the fourth quarter ended Dec. 31 from $4.79 billion a year earlier.
Net income available to shareholders rose to $2.13 billion, or $7.68 per share, helped by a one-time benefit, from $228 million, or 84 cents per share, a year earlier.
Excluding items, Goodyear earned 59 cents per share.