Cooper Tire makes small net loss; worker action hits earnings


Cooper Tire & Rubber's (CTB) FQ3 net loss $168,000 vs a profit of $74M a year earlier.

EPS zero vs $1.17.

Sales $832M vs $1.1B and forecasts of $836.35M.

Operating profit $27.8M vs $129.6M.

Industrial action in China hurt operating profit by $29M, while the aborted merger with India's Apollo Tyres cost $5M.

Cooper reiterates that it expects positive operating profit and net income in FQ4, and year-end cash and cash equivalents approaching $400M. (PR)

Comments (1)
  • cbmetcalfe
    , contributor
    Comments (91) | Send Message
     
    I'm a part-time mechanic and a trader. I don't know enough about the way this company is run to say if they are a great investment but I do know they make some of the best tires in the business with great warranties at a very reasonable price. So, on product alone it's a buy. But then, theres the old rule, don't fall in love with any stock!
    Any thoughts?
    3 Mar 2014, 09:55 AM Reply Like
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