Goodyear Tire & Rubber Q1 EPS Beats Views, Revenues Miss

Goodyear Tire & Rubber reported pre-market Friday mixed Q1 results, with adjusted earnings beating expectations on slightly improved revenues that were below forecasts compiled by Capital IQ.

The tire manufacturer said Q1 adjusted EPS was $0.74 per share, up from $0.72 per share a year earlier and topping the $0.63 per share consensus. Revenues rose to $3.70 billion from $3.69 billion but fell short of expectations for $3.78 billion. Looking ahead, Goodyear reaffirmed its FY17 segment operating income outlook of about $2.0 billion as well as its 2020 financial targets and capital allocation plan.

By Kristin Senesi