Cooper Tire: 4Q Earnings Snapshot
FINDLAY, Ohio (AP) _ Cooper Tire & Rubber Co. (CTB) on Tuesday reported a loss of $419,000 in its fourth quarter.
The Findlay, Ohio-based company said it had a loss of 1 cent per share. Earnings, adjusted for asset impairment costs, were 66 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The tire maker posted revenue of $770.5 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $773.1 million.
For the year, the company reported profit of $76.6 million, or $1.51 per share. Revenue was reported as $2.81 billion.
Cooper Tire shares have increased slightly more than 5 percent since the beginning of the year. The stock has dropped slightly more than 4 percent in the last 12 months.