Sales dip concerns Cooper Tire, despite higher earnings

Findlay, Ohio—Cooper Tire & Rubber Co. has posted a 29.6% year-on-year increase in third quarter operating income to $110.4 million, on net sales 2.3% lower at $734 million.

The earnings hike for the three months to 30 Sept, was linked to lower product liability costs, a non-cash pension settlement charge and other reduced costs, said a 30 Oct press release.

Cooper reported 31.3% volume growth in ‘international’ markets, led by Asia. This, however, was cancelled out by a 7.5% drop in the Americas to leave overall unit…

To read more,please login or register below.

This is the first step to more free
content, user offers, subscriptions
and more.
Log in here using the Email Address
and Password you signed up with