Goodyear reports that its third quarter tire sales and unit
volumes were the highest achieved since the third quarter of
2008.
“We are pleased with our continued strong operating results
and made significant progress in all of our strategic focus
areas during the third quarter,” says Richard J. Kramer,
chairman and CEO.
“We are encouraged by the strength and breadth of the
industry recovery,” he observes, despite a third quarter
loss of $20 million (8 cents per share) – attributed to the
rising cost of raw materials – compared with an income of
$72 million (30 cents per share) during the same period last
year.
“The bottom line,” Kramer adds, “is that as we look to the
future we feel good about the direction of the tire
industry, and we feel even better about our direction as a
company.”
Third quarter sales were $5 billion, an increase of 13
percent over last year’s third quarter. Tire unit volumes
totaled 47.7 million, up 6 percent from last year.
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“Goodyear’s innovation engine and resulting new products
continue to win awards and third-party recognitions that
drive differentiation in the marketplace and ultimately
translate into consumer demand for our premium branded
products,” Kramer says.
The company’s North American sales rose 17 percent from last
year’s third quarter to $2.2 billion – the highest since the
third quarter of 2008.
Sales reflect a 5 percent increase in tire unit volume,
improved price/mix and branded share gains in the consumer
replacement business. Original equipment unit volume
increased 12 percent. Replacement tire shipments were up 3
percent. Third quarter revenue per tire, excluding the
impact of foreign currency translation, increased 7 percent
compared to 2009.
For more information, visit www.goodyear.com.
