Apollo Tyres Ltd. posted net income of 840 million rupees on net sales of more than 41.7 billion rupees for its fourth quarter ended March 31, 2019.
Goodyear posted a net loss of $61 million on net sales of $3.6 billion for the first quarter ended March 31, 2019. That compares to income of $75 million on sales of $3.8 billion for the same period in fiscal 2018.
Despite a net loss in the fourth quarter, Cooper Tire & Rubber Co. posted net income of $77 million last year.
Apollo Tyres Ltd. will increase prices on its Vredestein consumer tires in North America beginning Jan. 1, 2019.
Floods, strikes and "volatile raw material prices" could not prevent Apollo Tyres Ltd. from increasing its global sales by 23% in the second quarter of its 2018-2019 fiscal year.
Cooper Tire & Rubber Co. posted net income of $54 million on net sales of $738 million for its third quarter ended Sept. 30, 2018. That compares to income $62 million on sales of $734 million for the same period last year.
Tire units in Goodyear Tire & Rubber Co.'s Americas Business Unit totaled 17.8 million units in the third quarter ended Sept. 30, 2018. That total is up 4% compared to the same period last year.
Titan International Inc. posted net income of $5.7 million on net sales of $429 million for the second quarter ended June 30, 2018. That compares to a net loss of $6.5 million on sales of $365 million for the same period last year.
"We have the right strategic plan in place," says Cooper Tire & Rubber Co. CEO and President Brad Hughes following Cooper's second-quarter 2018 results.
On July 1, 2018, the Retreading Systems Division of Marangoni SpA will upwardly adjust the sales price for rubber materials used to retread tires in all countries of the European Area. "This increase will reflect that of the raw materials used by this sector but should also be seen in the context of the current conditions of the whole TBR tire replacement market." said the company.
Goodyear Tire & Rubber Co. released its first-quarter 2018 financial results on April 25. Sales were up compared to the same period in 2016. Net income was down, as was unit volume. Operating income was down as well.
Can we expect tire prices to rise soon? It looks like the prices of at least two key raw materials in the tire building process may be on their way up.
The highlight of Apollo Tyres Ltd.’s third-quarter financial results was a 17% increase in sales.