February 13, 2014
Goodyear's operating income: It's all good
Goodyear Tire & Rubber Co.'s segment operating income for fiscal 2013 was up 26.6%, from more than $1.2 billion to nearly $1.6 billion. The performance of its North American business unit had a lot to do with that.
In its North American operations, which are made up of sales in the United States and Canada, Goodyear's segment operating income was up 34.4%, from $514 million to $691 million. Here are the full-year results.
Tire units: 61.7 million (down 1.4%).
Sales: $8.7 billion (down 10.1%).
Operating income: $691 million (up 34.4%).
"Our North America business achieved record earnings in all four quarters of 2013," says Richard Kramer, Goodyear's chairman and CEO.
Operating income was also up in Goodyear's three other business units: Europe, Middle East and Africa (18.2%); Latin America (26.9%); and Asia Pacific (18.9%).
In the fourth quarter, Goodyear's operating income was up more than 71%, from $116 million in 4Q 2012 to $199 million.
For more on Goodyear's 2013 financial results, click on "Not good, great: Goodyear makes $600 million."