Goodyear Tire’s profit climbs 10 percent in its first quarter
April 29, 2008
Filed under Features
Goodyear Tire and Rubber Co. said its sales for its first quarter rose 10 percent to $4.9 billion compared to the prior year period. Goodyear earned $147 million, reversing the loss of $174 million in the same quarter a year earlier.
Robert Keegan, chairman and CEO of Goodyear, says the first-quarter results reflect the success of the company’s strategies “to grow our higher-margin premium product lines, reduce costs and pay down debt.
“Each of our four businesses improved margins and operating income,” Keegan said in the release, “as we capitalized on attractive growth opportunities in targeted market segments.”
The company manufactures tires for various vehicles, including ATVs. Goodyear did not state, however, specific ATV tire sales numbers.