AKRON (July 22)—Goodyear expects its seven businesses, including North American Tire, to record profitable results for the second quarter when the company reports its financial results for the period Aug. 4.
Profits for the tire maker's two European business units are expected to rise more than 25 percent while its Latin America, Engineered Products and Chemical businesses will report operating income that's up at least 50 percent from the same period a year earlier, the company indicated.
Second-quarter results will reflect higher sales in all business units, improved pricing, better product mix and the impact of turnaround initiatives, according to Robert J. Keegan, chairman and CEO. "While we are pleased with our year-to-date operating results, challenges remain, including high levels of debt and unfunded pension obligations, which we are addressing with specific strategies," he said.