Suppliers

Global Tire Sales Greatly Aid Toyo's Results in 3Q 2018

Posted on November 15, 2018

Toyo Tire & Rubber Co. Ltd. posted net income of close to 11.3 billion yen on net sales of 285 billion yen for the third quarter ended Sept. 30, 2018. That compares to income of 11.7 billion yen on sales of 295.2 billion yen for the same period in fiscal 2017.

Based on the exchange rate on Sept. 30, 2018, Toyo recorded net income of $99 million on net sales of $2.5 billion in 3Q 2018. It's income-to-sales ratio was 3.8%.

The company's operating income dropped 7.8%, from 33.3 billion yen to 30.7 billion yen.

Toyo's Tire Business Unit posted net sales of 246.8 billion yen (more than $2.1 billion), an increase of 3.8% compared to last year, and operating income of 33.8 billion yen ($297.7 million), a comparative increase of 1.4%. The Automotive Parts Business Unit reported an operating loss on a 4.3% decrease in net sales.

In North America, which represents 51.2% of Toyo's total sales, net sales were up 5.1%, from 139.1 billion yen in 3Q 2017 to 146.1 billion yen (nearly $1.3 billion) in 3Q 2018. By comparison, sales in Japan were down 18.7%. However, Toyo's operating income in North America was down 19.8% quarter to quarter.

Toyo projects its total sales for fiscal 2018 will reach 390 billion yen, with tire sales representing close to 87% of the total, or 339 billion yen.

For more information on Toyo's financial results, check out these links:

"Toyo's Tire Segment Results Save the Day in 1H 2018."

"Toyo's 1Q Sales-Are-down 4.4%, but Profit Is Up 14.4%."

"Despite 4Q, Toyo Posts a Profit of $137.3 Million."

Related Topics: light truck tires, passenger tires, Toyo financials, truck tires

Comments ( 0 )
More Stories
News New Software Allows Inventory Ordering in Real Time

Andreoli & Associates Inc. can now provide “real-time” inventory lookup and tire ordering to tire suppliers directly from Ford, Chrysler, and GM car dealerships’ systems, thanks to an integration with Automated Media Inc.

Adriaan van Niekerk has joined CMA as regional fleet manager, West Region, U.S.
News CMA Beefs Up Its Sales Force in the Americas

China Manufacturers Alliance LLC (CMA) has added four salespeople to its Double Coin team in the U.S. and South America.

Alton Degenhardt places portable scales under each tractor tire. Knowing the weight exerted by a tire on the surface of soil enables him to calculate the air pressure needed to optimize the tractor’s performance and reduce compaction. He also uses the scales to determine the correct weight split of the tractor.
Article Degenhardt Tire Helps Growers See the Value in Proper Inflation

When Alton Degenhardt suggested lower inflation pressures of farm equipment tires would reduce soil compaction, his customers were skeptical.

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!