Goodyear tyres report ‘outstanding” Q2 results

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By Denna Bowman

Goodyear has reported record sales and higher earnings for the second quarter of 2011.

The US tyres company’s sales reached $5.6 billion, up 24 percent from a year ago and the highest ever achieved by the manufacturer in any quarter.

Second quarter sales also reflected strong price/mix improvements, which drove revenue per tyre up 18 per cent over the 2010 quarter, excluding the impact of foreign currency translation.

Richard J. Kramer, chairman and chief executive officer of the tyres manufacturer, said: “I’m very pleased with our outstanding second quarter results, which represent another step on the path toward our 2013 targets.

“They present confirmation that our strategies are right and that they are working,” he added.

“Earnings growth in North America is a key outcome of our strategies. North American Tire’s second quarter results show the type of performance we should be able to sustain once we reach our 2013 targets,” Kramer said.

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