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Cooper Tire (CTB) Q2 Earnings Beat Estimate, Down Y/Y

Zacks

Cooper Tire & Rubber Co. CTB manufactures and markets tires and related products.

The company will benefit from focus on improving its business operations. The company continues to develop great products with superior design and functionality. Cooper Tire has also been focusing on expansion in Asia and Latin America.

Estimate Trend & Surprise History

In first-quarter 2017, Cooper Tire reported negative earnings surprise. However, it has beaten the Zacks Consensus Estimate in three of the trailing four quarters with an average beat of around 10.48%.

Zacks Rank

Cooper Tire currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Earnings

Cooper Tire delivered earnings of 85 cents per share in the second quarter of 2017 that beat the Zacks Consensus Estimate of 74 cents. However, earnings were lower than $1.27 in the year-ago quarter.

Revenues

Cooper Tire recorded net sales of $721 million, missing the Zacks Consensus Estimate of $771 million as well the year ago revenues of $740.3 million.

Key Stats/Developments to Note

During the quarter, Cooper Tire’s consolidated unit volume declined 0.5% year over year, with robust growth in the International segment that was offset by lower volume in North America.

The company has reaffirmed 2017 operating profit margin guidance at high end of 8–10%.

Check back later for our full write up on Cooper Tire’s earnings report!

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