Cooper Tire & Rubber maintains momentum
ERJ staff report (BC)
Findlay, Ohio - Replacement tire maker Cooper Tire & Rubber Co. reported solid third quarter results early in November, which has led to an increase in all earnings estimates for 2012 over the past 30 days. Cooper also reached its 52-week high price of $24.98 on 29 November.
On 2 November Cooper posted a more than four-fold increase in earnings for its third quarter to $74.1 million or $1.17 per share , compared to last year's $17.3 million or $0.27.
Revenues in the quarter increased 4.5 percent year over year to $1.10 billion, driven by higher sales in North America.
This article is only available to subscribers - subscribe today
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
- Every issue of European Rubber Journal (6 issues) including Special Reports & Maps.
- Unlimited access to ERJ articles online
- Daily email newsletter – the latest news direct to your inbox
- Access to the ERJ online archive