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Goodyear Reports Lower 4Q Income
Goodyear Tire & Rubber Co. said its fourth-quarter income fell from a year earlier, citing a low-volume environment.
The largest North American tire maker broke even for the quarter, compared with a profit of $18 million, or 7 cents per share, a year ago. North American sales fell 10% to $2.3 billion.
Full-year net income fell to $183 million, or 74 cents per share, from $321 million, or $1.26 per share. North American sales fell to $9.7 billion from $9.9 billion.
The company did not break down commercial tire results.
Goodyear said its long-term growth in the global tire industry will continue, but at a slower pace than previously forecast, adding that it expects the commercial tire original equipment and replacement market to remain at about 2012 levels.
