Cooper Tire: 2Q Earnings Snapshot
FINDLAY, Ohio (AP) _ Cooper Tire & Rubber Co. (CTB) on Monday reported second-quarter profit of $8.8 million.
The Findlay, Ohio-based company said it had profit of 18 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The tire maker posted revenue of $679.1 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $718.6 million.
Cooper Tire shares have decreased nearly 6% since the beginning of the year. The stock has risen 14% in the last 12 months.