Cooper Tire (CTB) Tops Q2 EPS by 4c

Cooper Tire (NYSE: CTB) reported Q2 EPS of $0.30, $0.04 better than the analyst estimate of $0.26. Revenue for the quarter came in at $698 million versus the consensus estimate of $680.21 million.

Outlook:

“Due to continuing industry challenges and, in particular, rising raw material costs, we are revising our expectations for the balance of the year. Cooper now anticipates unit volume to be flat in 2018 compared to 2017, with a modest sequential improvement in operating profit margin in the second half of this year,” Hughes said. “We continue to believe that we have the right strategic plan in place and remain confident in our five-year financial targets, which include operating profit of 10 to 14 percent, as well as annual unit volume growth in the low- to mid-single digits and return on invested capital of 14 to 16 percent.”

Additional management expectations for 2018 include:

• Effective tax rate in a range between 23 and 26 percent, and
• Capital expenditures in a range between $200 and $220 million.

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

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