Goodyear cuts earnings forecast, again

Akron, Ohio – Goodyear has lowered its expectations for fiscal 2018 operating income slightly “to reflect the increasingly challenging industry environment,” the company said in a third quarter financial statement.

For the quarter ended 30 Sept, segment operating income was down 1.3% to $362 million, while revenue inched up slightly to $3.93 billion, leaving the operating ratio unchanged at 9.2%.

Goodyear revised its operating income outlook to about $1.3 billion from the $1.45 billion to $1.5 billion estimate it made in the second quarter.

The prior-quarter outlook was,…

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