Cooper Tire (CTB) Tops Q4 EPS by 34c

Cooper Tire (NYSE: CTB) reported Q4 EPS of $1.28, $0.34 better than the analyst estimate of $0.94. Revenue for the quarter came in at $784 million versus the consensus estimate of $767.36 million.

Outlook

For 2017, the company anticipates:

• Unit volume growth in each of its four segments
• Raw material costs are volatile and difficult to project, but the company’s latest forecast anticipates raw material costs to be up approximately 25 percent year over year in the first half of 2017, with slight sequential increases throughout the balance of the year
• Full year 2017 total company operating margin is expected to be at the high end of the company’s previously announced mid-term target of 8 to 10 percent based on operating margin around the low end of the range in the first half of the year, but exceeding 10 percent in the second half of the year
• The International segment is expected to continue to improve operating profit in 2017, inclusive of the recently acquired majority interest in Qingdao Ge Rui Da Rubber Co. (GRT)
• The full year 2017 effective tax rate is expected to be in a range of 30 to 33 percent
• Capital expenditures for 2017 are expected be in the range of $220 to $250 million

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

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