=Goodyear Tire (GT) reported earnings on Fri 27 July 2018 (b/o)

Goodyear Tire beats by $0.01, reports revs in-line; lowers FY18 segment operating income guidance reflecting increased costs

• Reports Q2 (Jun) earnings of $0.62 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.61; revenues rose 4.2% year/year to $3.84 bln vs the $3.85 bln Capital IQ Consensus.
• Outlook: The company expects its 2018 segment operating income to total between $1.45 billion and $1.5 billion (prior guidance $1.8-1.9 bln). The company has reduced its second-half outlook from the low end of the prior guidance to reflect a $130 million increase in raw material costs, a $60 million unfavorable swing in foreign currency due to a stronger U.S. dollar, and a $70 million headwind due to softening market conditions in China.