Goodyear increases earnings on lower sales in Q1

ERJ staff report (LMH)

Akron, Ohio – Goodyear Tire & Rubber Co. says operating income in the first quarter of 2013 totalled $302 million, up 3 percent from the year ago quarter, reflecting $230 million in lower raw material costs and “cost reduction activities”.

Sales for the quarter were $4.9 billion, down from $5.5 billion a year ago. Goodyear said in its 26 April Q1 report that the sales reflect lower tire unit volumes and lower sales in other tire related businesses, as…

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