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You are here: Home1 / News2 / Product News3 / Goodyear Results ‘Deflate’ Analysts

Goodyear Results ‘Deflate’ Analysts

Date: 6th August 2004 Author: Tyrepress Editors Comments: 0

Goodyear may have been in profit for the second quarter and may have posted record sales but not everyone is impressed. Deutsche Bank analysts have pointed out a number of flaws in the company’s optimism.

Although second quarter earnings of $0.23 are impressive, and $0.10 ahead of the banks estimate, the analysts point out that $0.09 was due to a lower than expected tax rate.

Goodyear’s $248 million EBIT may also be decidedly less exciting than the company would have us believe. Considering the fact that tyre volumes and pricing were stronger than expected and that pension and raw material costs were substantially lower, this figure could have been higher. As a result the analysts are saying that Goodyear is “significantly under performing.”

Related news:

  1. Goodyear Results Contain ‘Surprises’
  2. Goodyear Reports $20 billion Sales, $358 million Net Loss in 2006
  3. US Shipments Down, But Pricing ‘Robust’
  4. Analysts: Goodyear Poised for Growth
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Related Tags

analysts, Deutsche Bank, Goodyear, pricing, record, results, tax

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