Why Shares of Goodyear Tire Are Falling Today
Shares of Goodyear Tire & Rubber (NASDAQ: GT) fell more than 10% on Tuesday morning after the company reported weaker-than-expected year-end results. Volumes were down and foreign currency exchange took its toll, but overall the company sees stable conditions in the U.S. heading into 2020.
Goodyear reported fourth-quarter adjusted earnings of $0.19 per share before markets opened on Tuesday, well short of the $0.52 per share consensus estimate. Revenue came in at $3.7 billion, down 4.4% year over year and shy of the $3.88 billion estimate.
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Source Fool.com
