Goodyear reports net loss, reaffirms financial targets

ERJ staff report (TB)

Akron, Ohio – Goodyear reported 24-percent higher segment operating income of $373m (€270.2m) in the quarter ended 31 March, but the company recorded a net loss of $58m (€42m) loss, attributable mostly to an after-tax foreign currency exchange charge related to the firm’s business in Venezuela, reported Tire Business.

Sales revenue fell 7.9-percent to $4.47bn (€3.2bn) on the negative effects of currency exchange losses and a lower price/mix ratio along with a $202m (€146.3m) drop in sales in the tire-related businesses, most notably…

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