Yokohama posts “highest-ever” sales and operating profit

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Tokyo – Yokohama Rubber Co. Ltd has posted a 32.3% year-on-year rise in operating earnings to $242.6 million on first-half sales 1.8% higher at $2.85 billion, the company announced 10 Aug.

YRC cited raw materials, exchange rate differences and the price/mix factor as reasons for the earnings improvement. Combined, these offset negatives such as lower tire unit sales volume and higher fixed costs.

Read the source article at European Rubber Journal

Earnings up 45% at Cabot rubber blacks unit

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Boston, Massachusetts – Cabot Corp. has reported a 45% year-on-year rise in earnings (EBIT) to $74 million at its Reinforcement Materials unit for its fiscal third quarter lifting margins 2 percentage points to 16%.

Higher earnings, said Cabot, were driven mainly by “continued…

Read the source article at European Rubber Journal

Cooper Tire second quarter income down 67%

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Findlay, Ohio — Cooper Tire & Rubber Co.’s operating income plummeted 61.1% year-on-year to $32.8 million on second-quarter sales down 3.1% to $698.4 million. Net income for the three months to 30 June fell 66.9% to $15 million, compared with the year-ago period.

Read the source article at European Rubber Journal

Goodyear Tire & Rubber Co. (GT) Ceo Rich Kramer on Q2 2018 Results – Earnings Call Transcript

AKRON, Ohio, July 27, 2018 /PRNewswire/ — The Goodyear Tire & Rubber Company (NASDAQ: GT) today reported results for the second quarter and first half of 2018.

“We delivered strong operating performance in the quarter highlighted by impressive volume growth in our mature markets where we regained share, particularly in the more profitable 17 inch and greater rim sizes in the U.S. and Europe,” said Richard J. Kramer, chairman, chief executive officer and president. “Additionally, we achieved our price/mix and net cost savings goals for the quarter.”

Read the source article at Stock Market Insights

US automakers’ lower profits, see pitfalls for 2018

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Detroit’s automakers are profitable, but they face a turbulent second half of 2018. After second-quarter earnings reports Wednesday from all three domestic car companies, analysts and auto executives outlined mounting challenges in international markets, especially China, and the looming threat of President Donald Trump’s proposed 25 percent increase in tariffs on imported cars and parts, which could inflate prices across the board.

Read the source article at Detroit Free Press

Sales, Earnings Up at Yokohama in Q1 2018

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The Yokohama Rubber Co., Ltd., announced today its business and financial results for the first quarter (January to March) of fiscal 2018. Profit attributable to owners of parent increased 18.0% over the same period of the previous year, to 9.3 billion yen.

Read the source article at Tire Review

Raw materials costs hit Conti Rubber Group

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Hanover, Germany – Continental AG’s tire sales have slipped 4.4% year-on-year to €2,635.5 million in the first quarter of 2018, due in part to exchange rate effects and “changes in scope of consolidation”.

In the first three months of 2018, sales volumes for passenger and light truck tires in both original equipment business and tire replacement business were down “slightly” compared with the first quarter of 2017.

Read the source article at European Rubber Journal

Nokian Tyres: ‘Good development’ despite currency headwinds in Q1 2018

Although held back by exchange rate effects, net sales at Nokian Tyres were higher in the first three months of 2018 than a year earlier. Sales were up 3.1 per cent to 336.0 million euros; had the exchange rate effect been neutral, the tyre maker estimates that net sales would have increased 9.3 per cent year-on-year. Nevertheless, Hille Korhonen, president and chief executive officer of Nokian Tyres, referred to the result as “a good start of the year.”

Read the source article at Tyrepress

Cooper suffers double-digit earnings decline

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Findlay, Ohio – Cooper Tire & Rubber Co. suffered double-digit drops in operating and net income for the quarter ended 31 March 31, reflecting lower unit volume and costs associated with reduced manufacturing, the company said.

Operating income dropped 54.4% to $26.5 million on 6.5-percent lower sales of $601.5 million, cutting the operating margin nearly five%age points to 4.4%. Net income fell 72.9% to $8.29 million.

Read the source article at European Rubber Journal

Goodyear Reports 1st Quarter 2018 Results

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The Goodyear Tire & Rubber Co. has reported results for the first quarter of 2018.

“We are pleased with our first quarter results given higher raw material costs and weaker demand than we expected in the quarter,” said Richard Kramer, chairman, CEO and president. “These results were highlighted by our performance in the 17-inch-and-larger segment in consumer replacement, which delivered more than double the industry growth in the U.S. and Europe.”

Read the source article at Aftermarket News