Goodyear Tire beats by $0.17, misses on revs
Reports Q3 (Sep) earnings of $0.87 per share, excluding non-recurring items, $0.17 better than the Capital IQ Consensus Estimate of $0.70; revenues fell 6.9% year/year to $4.66 bln vs the $4.93 bln consensus.
The company reaffirmed its 2014-2016 financial targets, which include:
The company reaffirmed its 2014-2016 financial targets, which include:
- Segment Operating Income growth of between 10 percent and 15 percent per year, -
- Annual positive Free Cash Flow from Operations and, -
- An Adjusted Debt to EBITDAP ratio of 2.0x to 2.1x.
- The company now anticipates Segment Operating Income growth in 2014 will be near the high end of the 10 percent to 15 percent range. Based on year-to-date performance, the company now expects unit volumes to be flat to up 1 percent for 2014 over 2013.