Continental burns cash as Q2 sales slump nearly 40%

BERLIN — Continental suffered a nearly 40 percent year-on-year decline in group sales during the second quarter, causing the German supplier to burn cash and forcing it to refrain from providing an outlook for the year. Consolidated group sales declined by 39.8 percent to 6.62 billion euros ($7.6 billion), the company said Monday as it reported some results early. Operating margin was minus 9.6 percent and reported free cash flow was a negative 1.78 billion euros ($2 billion.)

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Goodyear To Announce Second Quarter 2020 Financial Results

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AKRON, Ohio, July 21, 2020 /PRNewswire/ — The Goodyear Tire & Rubber Company (NASDAQ: GT) will report second quarter 2020 financial results on Friday, July 31, to be followed by an investor conference call at 9 a.m. EDT. Prior to the commencement of the call, the company will post the…

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Orion Engineered Carbons S.A. Announces First Quarter 2020 Financial Results

HOUSTON–(BUSINESS WIRE)–Orion Engineered Carbons S.A. (NYSE: OEC), a global supplier of specialty and high-performance carbon black, today announced its first quarter 2020 financial results.

First Quarter 2020 Highlights

  • Rapidly implemented business continuity plan and took actions to protect our employees and our production capability, support our customers, ensure supply chain stability and enhance our financial standing
  • Enhanced financial flexibility by suspending dividend and bolstering cash position
  • Net sales of $336.0 million compared to $384.7 million in the first quarter of 2019
  • Net Income of $18.0 million and basic EPS of $0.30 compared to $19.0 million and $0.32 in the first quarter of 2019
  • Adjusted EBITDA1 of $63.8 million compared to $64.6 million in the first quarter of 2019
  • Adjusted Net Income of $26.6 million and Adjusted EPS1 of $0.44 compared to $23.8 million and $0.40 in the first quarter of 2019
  • Leverage ratio of 2.49x LTM Adjusted EBITDA compared to 2.28x at year-end 2019

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LyondellBasell Provides Estimated First Quarter 2020 Financial Results and Operational Update

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LyondellBasell Provides Estimated First Quarter 2020 Financial Results and Operational Update News provided by Apr 15, 2020, 08:55 ET Share this article HOUSTON and LONDON , April 15, 2020 /PRNewswire/ — LyondellBasell (NYSE: LYB ), one of the largest plastics, chemicals and refining companies in the world, today announced estimated first quarter financial results and provided an operational update. First quarter 2020 net income is expected to be in the range of $110 million to $180 million .

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Cooper Tire: 4Q Earnings Snapshot

FINDLAY, Ohio (AP) _ Cooper Tire & Rubber Co. (CTB) on Monday reported fourth-quarter net income of $51.3 million, after reporting a loss in the same period a year earlier. The Findlay, Ohio-based company said it had net income of $1.02 per share. The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

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Italian tiremaker Pirelli maps route to margin growth – Reuters

MILAN (Reuters) – Italian tiremaker Pirelli (PIRC.MI) will focus on its premium products and cost-cutting measures to drive a gradual increase in core profit margins over the next two years. Announcing its strategic plan after reporting annual results on Wednesday, the group said its margin on adjusted earnings before interest and tax (EBIT) would rise to between 18% and 19% through 2022, up from 17.2% last year.

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Yokohama reports 9% increase in profits

Tokyo – The Yokohama Rubber Co. (YRC) has reported higher sales and operating profit for the year 2019, helped by its ATG heavy tires unit and its non-tire business.

Sales edged up slightly over the year, to Yen650.5 billion (€5.4 billion), while operating profit increased 9.5%, to Yen58.6 billion, Yokohama reported 14 Feb.

The Tokyo-based company linked the strong growth in operating profit to a first-quarter gain on the sale of fixed assets.

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Cabot Corp (CBT) Q1 2020 Earnings Call Transcript

CBT earnings call for the period ending December 31, 2019. Feb 4, 2020 at 7:00PM …

Steve Delahunt — Vice President of Treasury and Investor Relations

Thank you, and good afternoon. I’d like to welcome you to the Cabot Corporation earnings teleconference. With me today are Sean Keohane, CEO and President; and Erica McLaughlin, Senior Vice President and CFO.

Last night, we released results for our first quarter of fiscal year 2020, copies of which are posted in the Investor Relations section of our website. 

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Trelleborg profitability down, despite higher sales

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TRELLEBORG, Sweden—Trelleborg has reported a 6.4 percent year-on-year decline in earnings for the third quarter of 2019, despite higher sales.

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Pirelli cuts guidance, delays business plan in worsening scenario

Adding to a string of auto parts suppliers hit by prolonged industry weakness, Pirelli said it forecast a full-year margin on its adjusted earnings before interest and taxes (EBIT) between 17% and 17.5% versus an already lowered previous target of 18-19%.

Pirelli, which makes tyres for Formula One racing teams and premium automakers such as BMW and Audi, said in a statement it cut its guidance after facing greater fixed costs as it lowered production to reduce inventories.

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