Stock Monitor: Myers Industries Post Earnings Reporting

LONDON, UK / ACCESSWIRE / March 13, 2018 / Active-Investors.com has just released a free earnings report on The Goodyear Tire & Rubber Co. (NASDAQ: GT) ("Goodyear"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GT. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 08, 2018. The biggest US tire maker exceeded revenues and earnings estimates, and also provided guidance for segment operating income. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Myers Industries, Inc. (NYSE: MYE), which also belongs to the Consumer Good sector as the Company Goodyear Tire & Rubber. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=MYE

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, The Goodyear Tire & Rubber most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=GT

Earnings Highlights and Summary

For the fourth quarter of the fiscal year 2017, Goodyear's sales increased 9% to $4.1 billion from $3.7 billion in Q4 2016, driven by an improved price/mix, a favorable currency translation, and volume. The Company's revenue numbers topped analysts' estimates of $3.91 billion.

During Q4 2017, Goodyear's Tire unit's volumes totaled 42 million, up 2% on a y-o-y basis. The Company's Replacement Tire unit's shipments were up 3%, while its Original Equipment unit's volume fell 1% compared to the year ago same period.

Goodyear reported an operating income of $419 million in Q4 2017, down 13% from $479 million in Q4 2016. The decrease reflects higher raw material costs and the unfavorable impact of lower production on cost.

For Q4 2017, Goodyear reported a net loss of $96 million, or $0.39 loss per share, compared to a net income of $561 million, or $2.14 per share, in Q4 2016. The Company's reported quarter results included a $299 million one-time, non-cash tax charge related to the US tax reform. In addition, the Company recognized discrete tax benefits of $331 million in 2016, primarily due to the release of foreign valuation allowances.

Goodyear's adjusted diluted earnings per share (EPS) were $0.99 in Q4 2017, up 4% compared to $0.95 in Q4 2016.

For the full year FY17, Goodyear posted sales of $15.4 billion, up 1% compared to $15.2 billion in FY16, reflecting an increase in price/mix, a favorable foreign currency translation, and higher sales in other tire-related businesses.

For FY17, Goodyear reported a net income of $346 million, or $1.37 per diluted share, compared to $1.26 billion, or $4.74 per diluted share, in FY16. The decline was attributed to increased income tax expenses. In addition, the Company recognized discrete tax benefits in FY16, primarily due to the release of foreign valuation allowances.

For FY17, Goodyear's adjusted diluted EPS were $3.12 compared to $4.00 in FY16.

Business Segment Results

During Q4 2017, Goodyear's Americas segment's net sales grew 6% to $2.2 billion on a y-o-y basis, reflecting an increase in tire unit volume of 4%, and a favorable price/mix. The segment's replacement tire shipments were up 5% on a y-o-y basis, driven by an increase in US consumer replacement of 8%. The Americas segment's operating income was $209 million in the reported quarter, down 29% on a y-o-y basis, due to higher raw material costs and increased costs due to lower production.

For Q4 2017, Goodyear's Europe, Middle-East, and Africa (EMEA) segment's sales advanced 12% to $1.3 billion, driven by a foreign currency translation, and an improved price/mix. The segment's replacement tire shipments grew 2%, while original equipment tire volume dropped 12%. The EMEA segment's operating income grew 15% to $93 million on a y-o-y basis in the reported quarter, driven by an improved price/mix, and cost savings actions.

During Q4 2017, Goodyear's Asia/Pacific segment's sales rose 14% to $623 million on a y-o-y basis, reflecting an improved price/mix and higher volume. The segment's tire volumes were a record and were up 5% on a y-o-y basis. The segment's replacement tire shipments remained flat, while its original equipment volume jumped 12% on a y-o-y basis. The Asia/Pacific segment's operating income climbed 14% to $117 million in the reported quarter, and was also a record for any quarter, attributed to improved price/mix and volume.

Shareholder Return Program

Goodyear repurchased 6.3 million shares of its common stock for $195 million during Q4 2017. For FY17, the Company repurchased 12.8 million shares for $400 million. Since 2013, the Company's repurchases under the program totaled 44 million shares for $1.3 billion. Goodyear had $0.8 billion remaining under the outstanding authorization through 2019.

Financial Targets

For the full fiscal year 2018, Goodyear is forecasting segment operating income to be between $1.8 billion and $1.9 billion. The Company also has updated its 2020 segment operating income target and capital allocation plan to $2.0 billion to $2.4 billion.

Stock Performance Snapshot

March 12, 2018 - At Monday's closing bell, The Goodyear Tire & Rubber's stock marginally advanced 0.49%, ending the trading session at $28.89.

Volume traded for the day: 2.00 million shares.

After yesterday's close, The Goodyear Tire & Rubber's market cap was at $7.04 billion.

Price to Earnings (P/E) ratio was at 11.26.

The stock has a dividend yield of 1.94%.

The stock is part of the Consumer Good sector, categorized under the Rubber & Plastics industry. This sector was up 0.3% at the end of the session.

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