Goodyear suffers double-digit drop in operating income

Akron, Ohio – Goodyear Tire & Rubber Co. has suffered double-digit declines in segment operating income for both fiscal 2018 and the fourth quarter.

The decline reflected, among other thing, higher raw material costs and weaker results from other tire-related businesses, the tire maker said in its annual results statement 8 Feb.

Segment operating income for the year fell 18.1% to $1.27 billion (€1.12 billion) on 0.6% higher sales of $15.5 billion.

Goodyear said unfavourable foreign currency translation affected the results.

That was, however, partially offset by net cost…

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