Goodyear Tire & Rubber (NASDAQ:GT) Second Quarter 2024 Results
Key Financial Results
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Revenue: US$4.57b (down 6.1% from 2Q 2023).
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Net income: US$85.0m (up from US$208.0m loss in 2Q 2023).
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Profit margin: 1.9% (up from net loss in 2Q 2023).
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EPS: US$0.30 (up from US$0.73 loss in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Goodyear Tire & Rubber EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) exceeded analyst estimates by 173%.
Looking ahead, revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in the US.
Performance of the American Auto Components industry.
The company’s shares are down 17% from a week ago.
Risk Analysis
We should say that we’ve discovered 1 warning sign for Goodyear Tire & Rubber that you should be aware of before investing here.
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