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Weak demand, prices impact Goodyear’s first quarter

Akron, Ohio – The combined effects of price increase and weak demand impacted Goodyear’s first quarter, which saw operating and net income fall on relatively unchanged sales.

Goodyear’s collective segment operating income fell 8.1% to $385 million, while net income fell 9.8% to $166 million.

The decreases were driven by the impact of lower volume and unabsorbed overhead, partially offset by favourable price/mix net of raw materials costs and net cost-saving actions, Goodyear said.

Goodyear’s first quarter sales of $3.7 billion were slightly ahead of the year-ago period,…

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