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.