Yokohama Posts 90.4% Operating Profit Loss in Q1
The company posted about a $2.4 million loss in Q1, compared with about $85 million in profit in the same period of the previous year.
Tirescanner Reports 400% Q1 Sales Growth
Tirescanner says its 2020 first-quarter success is due to mobile installation and its approach to delivering customer care.
Toyo Tires’s Q1 Net Sales Down 8.9% Year-Over-Year
Toyo’s tire business net sales (approximately $673.09 million) was down 8.2% from Q1 2019, while its automotive parts business net sales (approximately $91.07 million) was down 14% from Q1 2019.
Cooper Tire Sees Net Loss of $12M in Q1
First-quarter net sales were $532M for Cooper compared with $619M in the first quarter of 2019, a decrease of 14.1%.
Michelin: COVID-19 Responsible for 8.3% Q1 Sales Drop
PLT tire markets dropped 15% after carmakers suspended production, and truck tire markets fell by 17% year-over-year.
Goodyear Q1: Sales Down 15% from 2019, Net Loss of $619M
Goodyear says its Q1 decline was driven by lower industry volume, which was significantly impacted by the COVID-19 pandemic.
Goodyear to Permanently Close Gadsden, Ala. Factory
The company expects the closure of the plant, combined with other rationalization actions, to result in approximately $130 million of annual savings in 2021 when compared with 2019.
Hankook Tire Buys Back Shares to Enhance Shareholder Value
The company says it plans to purchase about KRW 50 billion worth of Hankook Tire shares over the next six months.
Monro, Inc. Gives Business Update Due to COVID-19
The company’s preliminary estimate of sales for the fourth quarter of the fiscal year is approximately $286.1 million, a decrease of 0.4% compared to $287.2 million in the prior-year quarter.
What’s Treading, Ep. 10: Tire Industry Economics & COVID-19 [Audio]
We spoke with financial advisors who study the tire industry to get their pulse on how the coronavirus will affect all parts of the industry in the weeks and months to come.
Financial Report: Cooper Tire Net Sales Down YoY
Cooper reported 2019 net sales at $2.75 billion, compared with $2.81 billion the prior year. Net sales decreased 2.6% to $750 million, according to the report.
Bridgestone Sees 3% Decrease in 2019 Net Sales
Bridgestone’s 2019 end-of-year financial report shows net sales and operating profits fell from 2018.