Goodyear’s Third-Quarter Profit Declines
Goodyear Tire & Rubber Co. said Monday its third-quarter profit fell to $31 million, or 13 cents a share, from $668 million, or $2.75, a year ago.
Last year’s third quarter included a gain of $517 million, or $2.12 per share, on the sale of its engineered products business.
Sales rose 2% to $5.3 billion on improved pricing and stronger international markets that offset a slumping North American market, Goodyear said.
North American sales slipped to $2.19 billion, from $2.29 billion, the company said. Goodyear is the largest U.S. tire maker.
