Analytical Reports on Cooper Tire & Rubber Co. and Goodyear Tire & Rubber Co. - Raw Materials Hurt Some Tire Companies
August 10 2011 - 8:37AM
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Weak consumer demand in North America and higher raw materials
costs have hurt sales of some tire companies within the rubber and
plastics industry. Despite the headwinds, a few companies were
still able to widen margins.
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Cooper Tire and Rubber Co. actually grew revenues 15% compared
to last year's second quarter but saw profits swoon. Cooper earned
$11.5 million in this year's second quarter, far less than $44.1
million it earned a year earlier. Higher raw materials costs can be
credited for much of the gap. www.SignalWatcher.com gives traders a
unique insight about Cooper Tire & Rubber
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As raw materials weigh on margins, some companies are opting to
improve efficiency and up expansion efforts in international
markets. Goodyear Tire and Rubber Company has pledged $1 billion in
gross savings by 2012 and intends to grow sales in emerging Asian
and Latin American markets. Goodyear was also only slightly
affected by weaker North American demand and managed to improve
total sales by an impressive 24% in its second quarter.
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Moving forward, significant changes to consumer demand and raw
materials pricing do not seem likely in the short-term. Tire
companies will likely look to improve operating efficiency and to
get more out of international markets.
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