Cooper Tire & Rubber Co. (CTB) Misses Q3 EPS by 2c; Sales Vols Improve
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Cooper Tire & Rubber Co. (NYSE: CTB) reported Q3 EPS of $0.27, $0.02 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $1.05 billion versus the consensus estimate of $1.01 billion.
Sales volumes in both the North American and International segments were higher than the prior year same period, which improved profits by $5 million. Improved price and mix of $158 million during the quarter was more than offset by $194 million of higher raw material costs.
Sales volumes in both the North American and International segments were higher than the prior year same period, which improved profits by $5 million. Improved price and mix of $158 million during the quarter was more than offset by $194 million of higher raw material costs.
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