Goodyear: Materials prices to peak in first quarter

ERJ staff report (TB)

Miami Beach, Miami – Goodyear expects raw materials prices to peak in the first quarter, but it will be three to six months before that easing will be reflected in pricing because of the lag time between purchasing and consuming materials, the firm’s chief financial officer told analysts recently.

Raw material costs shot up about 25 percent in the fourth quarter, Darren Wells said at the JP Morgan Chase & Co. High Yield Conference in Miami Beach. The increase largely offset price/mix gains…

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