Hankook earnings drop 42% in Q2, sales up

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SEOUL, South Korea — Hankook Tire Co. Ltd. suffered a 42.2% drop in operating income for the quarter ended June 30 on 2.1% higher revenue, driven by increased sales of higher rim-diameter tires.

Read the source article at Tire Business

GM earnings Q2 2019 beats expectations

General Motors beat analyst estimates for the second quarter Thursday with strong sales in North America leading the way. Its stock gained 3% from Wednesday’s close of $40.34 a share. Here’s what GM reported against average analysts’ estimates compiled by Refinitiv: GM reported second-quarter net income of $2.41 billion or $1.66 per share, compared with $2.39 billion or $1.66 per share a year earlier. Excluding one-time items, GM reported earnings of $1.64 per share.

Read the source article at cnbc.com

U.S. Silica Holdings, Inc. Announces Second Quarter 2019 Results

KATY, Texas, July 30, 2019 /PRNewswire/ — U.S. Silica Holdings, Inc. (NYSE: SLCA), a diversified industrial minerals company and the leading last mile logistics provider to the oil and gas industry (the “Company”), today announced net income of $6.2 million, or $0.08 per basic and…

Read the source article at PR Newswire

Yokohama profits halved, tire unit reports major declines

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Tokyo – The Yokohama Rubber Co. (YRC) has reported a 50.1% year-on-year decline in first quarter business profit at Yen5.8 billion (€47 million) on 0.2% higher sales of Yen149.5 billion.

In the tires segment, sales revenue for the first three months of the year fell 3.9% to Yen100 billion, due in part to a decline in sales volumes, Yokohama reported 14 May.

Segment profit dropped 81.6% to Yen1.4 billion, due to lower volumes and an increase in production costs associated with reduced production.

Read the source article at European Rubber Journal

Titan International : Management’s Discussion and Analysis of Financial Condition and Results of Operations

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations Management’s discussion and analysis of financial condition and results of operations (MD&A) is designed to provide a reader of the financial statements included in this quarterly report with a narrative from the perspective of the management of Titan International, Inc. (Titan or the Company) on Titan’s financial condition, results of operations, liquidity, and other factors that may affect the Company’s future results. The MD&A in this quarterly report should be read in conjunction with the condensed consolidated financial statements and other …

Read the source article at Stock Market Quotes and News

Cabot Corp Reports Second Quarter Fiscal 2019 Results

BOSTON–(BUSINESS WIRE)–May 6, 2019– Cabot Corporation (NYSE: CBT) today announced results for its second quarter of fiscal year 2019.

Key Highlights

  • Positive impact from calendar year 2019 tire customer agreements more than offset by pricing weakness in China in Reinforcement Materials
  • Performance Chemicals impacted by soft automotive demand and a less favorable product mix
  • Announced agreement to divest Specialty Fluids segment in transaction valued at $135 million
  • Continued commitment to return cash to shareholders with $70 million of dividends and share repurchases in the quarter

Read the source article at Markets data

Orion Engineered Carbons S.A. Announces First Quarter 2019 Financial Results

Orion Engineered Carbons S.A. (NYSE: OEC), a worldwide supplier of Specialty and High-Performance Carbon Black, today announced first quarter 2019 financial results.

First Quarter 2019 Highlights

  • Net Income of $19.0 million and basic EPS of $0.32 versus $26.8 million and $0.45 in first quarter of 2018
  • Adjusted EPS1 of $0.40
  • Cash flow from operations of $26.2 million
  • Total Carbon Black volumes decreased 

Read the source article at EPICOS

Trelleborg notes automotive sales decline in Q1 report

Trelleborg, Sweden – Trelleborg AB has seen a reduction in business from automotive-related customers during the first quarter of 2019, the company reported 26 April.

While sales grew 9% year-on-year to SEK9.38 billion (€884 million), Trelleborg said organic growth slowed at 1% compared to the preceding period.

Earnings (EBITDA) grew 1% to SEK1.38 billion, while EBIT margin fell to 13.8% from 15.1% in the prior-year first quarter.

Read the source article at European Rubber Journal

Conti earnings decline amid automotive slowdown

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Hanover, Germany — Continental Corp. has registered a 17.1% year-on-year decline in earnings on flat sales for the first quarter of 2019.

Adjusted EBITDA fell to €884 million for the first three months of the year, while sales grew 0.3% to €11 billion, Continental said in a release 26 April.

The company statement did not offer a breakdown of the business performance of its various divisions.

Read the source article at European Rubber Journal

Michelin shares surge after tyre maker pledges higher profits in 2019

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Shares in Michelin, which also reported better-than-expected results for 2018 late on Monday, were up 7.5 percent in early session trading. The stock was the best performer on France’s benchmark CAC-40 index.

“Michelin is able to sustain premium price points, while concurrently gaining market share – this is the perfect recipe for earnings growth,” analysts at Citigroup wrote in a note, keeping a “buy” rating on Michelin shares.

Read the source article at Stock Market Quotes and News