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Cooper Tire & Rubber's (CTB) Q1 Earnings Miss Estimate

Zacks Equity Research
Updated

Cooper Tire & Rubber Company CTB, engaged in the design, manufacture, marketing and sale of tires, delivered adjusted earnings of 16 cents per share in the first quarter of 2018 that missed the Zacks Consensus Estimate of 60 cents.

Revenues

Cooper Tire recorded net sales of $601 million, missing the Zacks Consensus Estimate of $643 million. The year-ago quarter’s net sales were $643 million also.

Estimate Trend & Surprise History

In fourth-quarter 2017, Cooper Tire reported negative earnings surprise of 19.4%. In fact, the company has beaten the Zacks Consensus Estimate in two of the trailing four quarters with an average beat of around 2.8%.

Cooper Tire & Rubber Company Price and EPS Surprise

Cooper Tire & Rubber Company Price and EPS Surprise | Cooper Tire & Rubber Company Quote

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Zacks Rank

Cooper Tire currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Key Stats/Developments to Note

During the quarter, Cooper Tire’s consolidated unit volume declined 6.1% year over year, with decline in both the Americas and International segments.

The company expects 2018 operating profit margin guidance to remain similar to that of the previous guidance of 9–11%.

Check back later for our full write up on Cooper Tire’s earnings report!

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