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© Reuters. Goodyear Tire beats Q3 estimates, revenues miss
Goodyear Tire (GT) reported its Q3 outcomes, with EPS of $0.36 coming in higher than the consensus of $0.19. Nonetheless, revenues of $5.14 billion missed the consensus estimate of $5.3B.
The corporate anticipates its upcoming This fall outcomes to be negatively impacted by a hearth at its manufacturing facility in Poland, which is predicted to lead to a one-time price of roughly $20 million. Nonetheless, the corporate tasks This fall quantity to be the very best of any quarter this yr and continues to anticipate sequential margin enlargement, reflecting robust worth/combine advantages from its strategic deal with extra premium, high-value segments of the market.
Moreover, the corporate mentioned it is going to present an replace subsequent week, relating to the excellent evaluation led by the Strategic and Operational Evaluate Committee of its Board of Administrators. It’s going to host a public name on Wednesday, Nov. 15, at 8:30 a.m. EST to debate the committee’s suggestions to maximise shareholder worth creation.
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