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Goodyear reports higher income, lower sales in Q3

Akron, Ohio – Goodyear’s net income increased 17 percent on 9.5 percent lower sales for the third quarter of 2016, the company disclosed on 28 Oct.

Sales for the quarter came in at $3.8 billion (€3.4 million) compared to $4.2 billion from 2015 thanks largely to the deconsolidation of Goodyear’s subsidiary in Venezuela. The firm’s net income increased to $317 million, compared to $271 million in 2015. The firm cited an income tax benefit resulting from various discrete tax adjustments, partially offset by increased rationalization charges.

“We…

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