Struktol - A World of Capabilities

The April Digital Edition
Home The Magazine Digital Edition Red Book Blue Book Book Store RW China Archives IEC - Expo

Celebrating 127 years of service to
the Worldwide Rubber Industry

News/Markets Hotlinks Media File Chemical Suppliers Machinery Suppliers Testing Services Custom Services Community
  AkzoNobel VMI Group  
Expos - Meetings - Golf Outings
Add your event
- courtesy of AkzoNobel

Translate Page To German
Tranlate Page To Spanish
Translate Page To French
Translate Page To Italian
Translate Page To Japanese
Translate Page To Korean
Translate Page To Portuguese
Translate Page To Chinese
Click to translate

Firestone Polymers

HallStar - Plasticizers

Hexpol Compounding


Click here to read the
April issue.



Product Spotlight

Scanning calorimeters
Click here for more information

Goodyear reports record results for first quarter 2016  

Friday, April 29, 2016

Akron, OH - The Goodyear Tire & Rubber Company reported record results for the first quarter of 2016. “We are very pleased with our strong first quarter performance,” said Richard J. Kramer, chairman, chief executive officer and president. “Demand for our premium-branded, high-value-added products is robust and our product mix continues to grow richer, driving margin expansion,” he added. The company’s first quarter segment operating margin of 11.4 percent was up from 9.6 percent a year ago. “Our results are a reflection of our ability to successfully execute on our strategy,” said Kramer. “We will continue to focus on profitable growth in market segments where our innovation, brand and operational excellence capabilities provide a competitive advantage.” Goodyear’s first quarter 2016 sales were $3.7 billion, down from $4.0 billion a year ago, largely due to unfavorable foreign currency translation of $141 million and the deconsolidation of the company’s subsidiary in Venezuela. Tire unit volumes totaled 41.5 million, up 2 percent from 2015, driven by growth in the Asia Pacific region, primarily in Japan and China. Replacement tire shipments were up 2 percent. Original equipment unit volume was up 2 percent. Excluding the impact of the deconsolidation of Venezuela, unit volumes increased 3 percent. The company reported record first quarter segment operating income of $419 million in 2016, up from $388 million a year ago. The increase was driven by favorable price/mix net of raw materials and the impact of higher volume. These improvements were partially offset by the deconsolidation of the Venezuelan subsidiary and higher selling, administrative and general expenses. Core segment operating income, which excludes Venezuela, was $366 million in the year-ago quarter. Goodyear’s first quarter 2016 net income was $184 million (68 cents per share). Excluding certain significant items, adjusted net income was $195 million (72 cents per share). Per share amounts are diluted. Goodyear’s first quarter 2015 net income was $224 million (82 cents per share). Net income included a non-cash, one-time gain of $155 million ($99 million after taxes and minority interest) for the recognition of deferred royalty income resulting from the termination of a licensing agreement associated with the company’s former Engineered Products business. Excluding certain significant items, adjusted net income was $148 million (54 cents per share). Per share amounts are diluted.


AGC Chemicals
Ø Send your news/press releases
Todays Headlines

ØWeek in Review
ØSearch the News Archives
ØSign up for News - Email Updates

Zeon Zetpol
Imerys Carbon Black
Rubber Forum
Featured Website
The world's largest producer of releasants and lubricants to the rubber, tire, polyurethane, composites, rotation and die casting industries.

Sprinter Marking
Rubber Industry Videos
VMI - an interview with Arie Kroeze 1:32
Wacker Silicone
AirBoss of America laboratory 0:42
Matthews Marking Systems Matthews Marking Systems
Struktol - Plastic
Additives Solutions

Silicone Technologies
Rubber tire marking and coding :50
Click here to view more industry videos

Yahoo Market Summary

This page, and all contents, are Copyright (c) 2016 Rubber World Magazine.
This site was created by Rubber World Magazine's Electronic Publishing Division, Akron, Ohio.