Guides initial FY15 global volume +1-2% y/y; FX headwinds in FY15 to be similar to FY14 - conf call slides
- In FY15 to see positive price mix vs. raw materials (~$50-100 million)- Guides initial FY15 capex $1.2B
- In FY15 sees potential release of US tax valuation allowance. Tax rate if released: 30-35% of global pre-tax income, no US cash taxes for ~5 years
- Venezuela to be a source of uncertainty in FY15
- Our strategy gives us confidence in the future plan to repurchase up to $150 million of our common stock in Q4
- In Q4, increasing demand for our premium branded products was outpacing supply. Constraints were limiting our ability to offset negative volume impact of potential tariff in economy & mid-tier segments. Actions to address increasing demand for our HVA tires:
Current growth capexplan will increase capacity (2014+)
Leveraging our global HVA footprint (2015+)
Building capacity with announced new Americas plant (2017+)