Cooper Tire (CTB) Tops Q3 EPS by 13c

Cooper Tire (NYSE: CTB) reported Q3 EPS of $0.93, $0.13 better than the analyst estimate of $0.80. Revenue for the quarter came in at $782 million versus the consensus estimate of $760.33 million.

Outlook

Third quarter raw material costs increased 2.1 percent from the second quarter of 2015, with the company’s internal raw material index increasing from 153.5 in the second quarter to 156.7 in the third quarter. The company anticipates fourth quarter raw material costs will be down slightly from the third quarter.

The company outlined the following for the full year 2015:

• Tax rate in the range of 34 percent to 37 percent
• SG&A forecast in the range of $265 million to $275 million
• Capital expenditures expected to be between $195 million and $205 million

For earnings history and earnings-related data on Cooper Tire (CTB) click here.

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