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The Goodyear Tire & Rubber Company (GT): Q3 2019 Earnings Snapshot

– The Goodyear Tire & Rubber Company (NASDAQ: GT) reported adjusted earnings of $0.45 per share for the third quarter of 2019, vs $0.52 per share expected

– Net income decreased to $88 million or $0.38 per share from $351 million or $1.48 per share in the third quarter of last year

– Third-quarter sales declined 3% annually to $3.8 billion, vs. $3.92 billion expected, hurt mainly by unfavorable foreign currency translation

– US consumer replacement shipments increased 3%; tire unit volumes dropped 1% from last year to 40.3 million

— Declared quarterly dividend of $0.16 per share, payable on December 2 to shareholders of record on November 1

– Goodyear shares gained modestly early Friday, after closing the last trading session lower

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text

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