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Bulletin: Goodyear Tire & Rubber Co. (The) First-Quarter Results Have No Effect On The Rating
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) April 29, 2011--Standard & Poor's Ratings Services today said that first-quarter 2011 results for Akron, Ohio-based The Goodyear Tire & Rubber Co. (BB-/Stable/--) were consistent with the current rating. In the first quarter, sales were $5.4 billion, up 26.5% from the quarter a year ago, because of higher tire sales and a better price mix. The company's segment operating profit was $327 million, compared with $240 million a year ago, and reflects a stronger price mix of $361 million that almost offset the $385 million in rising raw material costs. Goodyear reported record sales in all of its geographical segments. Moreover, segment operating income in North America was $40 million, compared with a negative $14...
Companies mentioned in this report are: Goodyear Tire & Rubber Co. (The)
Action: Bulletin
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