Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Goodyear Rose After Beating First-Quarter Estimates

April 28 (Bloomberg) -- Goodyear Tire & Rubber Co. gained the most since September in intraday New York trading after the largest U.S. tiremaker narrowed its first-quarter loss and beat analysts’ estimates.

Goodyear closed at $13.82, a decline of 23 cents, or 1.6 percent, in New York Stock Exchange composite trading. Earlier, the shares advanced as much as 8.7 percent, the biggest increase since Sept. 14. They have fallen 2 percent this year.

The net loss shrank to $47 million, or 19 cents a share, from $333 million, or $1.38, a year earlier, the Akron, Ohio-based company said in a statement today. Goodyear said that excluding some costs and gains, it had a profit of 18 cents a share. The average of 7 analysts’ estimates compiled by Bloomberg was for an adjusted loss of 3 cents.

“Given low expectations, we expect a positive reaction to shares of Goodyear,” Himanshu Patel, a JPMorgan Chase & Co. analyst in New York, wrote in a note to investors. He cited a 14 percent surge in global tire volumes and said the results confirm “that there are no more major skeletons lingering.”

Sales rose 21 percent to $4.27 billion. The average of 3 analysts’ estimates was for $4.03 billion.

To contact the reporter on this story: Katie Merx in Southfield, Michigan, at

To contact the editor responsible for this story: Jamie Butters at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.