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Goodyear Tire & Rubber Co. (NYSE:GT) missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 4%.
Goodyear Tire & Rubber Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $0.00 in the quarter versus EPS of $0.03 in the year-earlier quarter.
Revenue: Decreased 11.23% to $5.05 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Goodyear Tire & Rubber Co. reported adjusted EPS of $0.00 per share. By that measure, the company missed the mean analyst estimate of $0.2. It missed the average revenue estimate of $5.34 billion.
Quoting Management: “Our 2012 performance marks the second consecutive year we have exceeded $1.2 billion in segment operating income in a low-volume environment,” said Richard J. Kramer, chairman and chief executive officer. “These results have been driven by North American Tire’s performance, which has momentum and, more importantly, sustainability,” he added.
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