Continental (XTER:CON)’s stock price has fallen due to industry-wide concerns about auto production volumes and tariffs, but we believe the company has superior end-market exposures and a lower risk profile than many of its peers. Continental’s tire business accounts for about 45% of the company’s earnings, and we find that it generates solid margins and returns relative to industry peers. Replacement tires account for a large portion of segment earnings and …
AKRON – The Goodyear Tire & Rubber Company today said it will webcast its presentation at the 2018 Morgan Stanley Laguna Conference in California on Sept. 14, 2018 . Richard J. Kramer , chairman, chief executive officer and president, will provide a business overview. A live, audio-only webcast of the presentation will be available at 11:45 a.m. EDT ( 8:45 a.m. PDT ) on the company’s investor relations website: http://investor.goodyear.com.
MUNICH — Continental’s disappointing sales in China and Europe forced the car-parts maker to cut its revenue forecast. In addition, the company said spending on new technology is weighing on profitability. Shares plunged the most since 2009. The world’s second-biggest automotive supplier expects revenue of 46 billion euros ($53 billion) for the year, excluding currency effects, 1 billion euros lower than a previous target, the Hanover, Germany-based Continental said Wednesday in a statement.
Milan – Pirelli C & SpA has posted strong growth in earnings (adjusted EBIT before start-up costs) for the first six months of the year, despite a decline in sales.
In the six months to end of June, the Italian tire maker posted a 6.8% rise in earnings at €473.3 million compared with the same period last year.
The improvement, said Pirelli in a 7 Aug financial statement, is linked to internal levers such as price/mix and efficiencies, which “more than offset” an increase in the cost…
Senior executives at Ford Motor Co. F 0.85% have come to expect emails from their new boss, Chief Executive Jim Hackett, that include links to TED Talks and articles from Science Daily. They often come around 11 p.m., when he catches up on his reading.
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.”
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.
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.”
Michelin has become the world’s most valuable tire brand following 30 percent brand value growth to $7.9 billion over the past year according to the latest Brand Finance report. It overtook Bridgestone (down 6 percent to $7 billion), which slipped from first to second place in the annual Brand Finance Tyres 10 ranking.
BERWYN, Pa.—Positive 2017 results are leading executives with materials maker Trinseo to increase guidance for 2018.