SEOUL, South Korea—Kumho Tire Co. Inc. suffered an 81.2 percent drop in pre-tax operating profit for fiscal 2017, on 2 percent lower sales.
Kumho’s earnings before interest, tax, depreciation and amortization (EBITDA) fell to $57.4 million on sales of $2.55 billion, according to the company’s fourth quarter investor relations documents. As a result, the operating ratio fell more than nine points to 2.3 percent. The operating result turned red to the tune of $139 million. Kumho did not report net earnings.