Retail

In North America, Goodyear sales increase 17.6%

Posted on July 28, 2011

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%.

Related Topics: Goodyear financials, Latin America, Rich Kramer

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