Second-quarer results for its fiscal 2011 were "outstanding," according to Goodyear Tire & Rubber Co. Chairman, CEO and President Richard Kramer. Net sales were a record for any quarter (see "Goodyear: a record $5.6 billion in quarterly sales").
But the company is made up of four business segments. How did they fare individually in 2011 compared to 2010 ? Here are the results.
North American Tire
Sales: $2.4 billion (up 17.6%).
Tire units: 15.7 million (down 5.4%).
Operating income: $137 million (up 756%).
For the first six months of the year, sales and tire unit sales were up.
Europe, Middle East and Africa Tire
Sales: $1.9 billion (up 33.5%).
Tire units: 17 million (up 1.1%).
Operating income: $126 million (up 72.6%).
For the first six months of the year, sales and tire unit sales were up.
Latin America Tire
Sales: $640 million (up 21%).
Tire units: 5 million (down 3.8%).
Operating income: $54 million (down 18.2%).
For the first six months of the year, sales were up, while tire unit sales were down.
Asia Pacific Tire
Sales: $626 million (up 26.4%).
Tire units: 5.2 million (down 1.9%).
Operating income: $65 million (up 1.5%).
For the first six months of the year, sales were up, while tire unit sales were down.
Sales in the North American Tire business unit were a 2Q record for the company. Sales in Latin America and Asia were Goodyear records for any quarter.
Overall, segment operating income was $382 million for 2Q 2011, up 74% compared to the same period last year. For the first six months, operating income was $709 million, up 54%.
