Goodyear posts ‘solid’ 2016 earnings

Akron, Ohio – Buoyed by strong performances in its Americas and Asia Pacific consumer tire operations, Goodyear posted $479 million (€447 million) in fourth quarter segment operating earnings and $2 billion in operating income for the year ended 31 Dec.

Sales for the year declined 7.8% to $15.2 billion and fell 7.9% to $3.7 billion in the quarter, reflecting primarily the deconsolidation of the company’s subsidiary in Venezuela as well as unfavourable currency translation, the Akron-based tire maker said.

“We delivered solid net income and record core…

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