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Goodyear, with strong fourth-quarter results in North America, earns $228M, beats estimate

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In this Wednesday, Feb. 12, 2014 photo shows icycles hanging above a Goodyear sign in South Euclid, Ohio. Goodyear reports quarterly earnings on Thursday, Feb. 13, 2014. (AP Photo/Tony Dejak)

CLEVELAND – Strong fourth-quarter results in Goodyear’s core North American market helped the tire maker beat Wall Street estimates.

Its shares rose more than 3 per cent in premarket trading.

The Akron-based company said Thursday it earned $228 million, or 84 cents per share, on sales of $4.8 billion.

After one-time charges, Goodyear earned 74 cents, beating the Wall Street estimate of 65 cents.

The company had broken even on sales of $5 billion in the last quarter of 2012.

In the most recent quarter, Goodyear’s North American segment operating income rose 72 per cent to $199 million. The number of tires sold worldwide increased 2 per cent to 40.7 million.

With a new labour agreement, Goodyear said it has halted production at an Amiens, France, factory with a contentious past and will close it by March.

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