Cooper Tire & Rubber Company Reports Second Quarter 2019 Results
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Cooper Tire (CTB) Misses Q2 EPS by 32c, Revenues Miss
July 29, 2019 7:02 AM EDTCooper Tire (NYSE: CTB) reported Q2 EPS of $0.18, $0.32 worse than the analyst estimate of $0.50. Revenue for the quarter came in at $679 million versus the consensus estimate of $720.69 million.
Net sales decreased 2.8 percent to $679 million.
Unit volume decreased 4.9 percent compared to the second quarter of 2018.
Operating profit was $32 million, or 4.7 percent of net sales.
The company amended its bank credit facility to extend the term, increase capacity, and provide for refinancing of its upcoming bond maturity.
Our second quarter operating profit margin improved sequentially from the first quarter, and the Americas... More
