Cooper Tire (CTB) Tops Q2 EPS by 20c

Cooper Tire (NYSE: CTB) reported Q2 EPS of $1.27, $0.20 better than the analyst estimate of $1.07. Revenue for the quarter came in at $740 million versus the consensus estimate of $751.81 million.

“Cooper closed the first half of 2016 with another outstanding quarter,” said Chairman, Chief Executive Officer and President Roy Armes. “We achieved record-setting second quarter operating margin, building upon the strong results we delivered in the first quarter. The Americas segment posted another terrific quarter, generating operating margin of more than 17 percent. Our International segment performed better than expected, moving from a loss to delivering an operating profit for the period. Cooper continues to execute on our strategy to deliver shareholder value, including returning cash to shareholders through our quarterly dividend and share repurchases, which totaled more than $29 million during the second quarter,” Armes added. “As my retirement will be effective Aug. 31, this is the final quarter I will report on behalf of Cooper. It has been my honor to lead such a talented and committed team in transforming the Cooper business model to deliver outstanding results quarter after quarter, positioning the company for long-term success.”

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

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