Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
web
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • Silicone
    • Latex
    • Coronavirus
    • Executive Action
    • Government/Legal
    • Opinion
    • Technical Notebooks
    • Women in Tire & Rubber
    • ITEC
    • International Elastomer Show
    • HEXPOL Sponsored Content
    • Goodyear's global footprint would get strategic boost with Cooper Tire deal
      Goodyear-Cooper Tire deal 'a transactional milestone'
      Cooper recalling 430,000+ whitewall LT tires in multiple brands
      Yokohama sets ambitious goals through 2023
    • Goodyear's global footprint would get strategic boost with Cooper Tire deal
      Goodyear-Cooper Tire deal 'a transactional milestone'
      9 Goodyear-Cooper Tire stories you may have missed
      Cooper recalling 430,000+ whitewall LT tires in multiple brands
    • USTMA, NAM among associations backing passage of Equality Act
      ASC seeks presenters for fall convention
      Birla Carbon again recognized for sustainability efforts
      Carlisle TyrFil out with new recycling technology
    • Zeon receives pair of ISO certifications
      Trinseo taps K.D. Feddersen to supply soft-touch elastomers
      New products: MonTech offering customized bale cutters
      Synthomer dismisses takeover reports
    • Stockwell Elastomerics' legacy moves on
      Larger mixers tout economies of scale, along with the need for speed
      Hexpol, Bloom deal with COVID, reorganization, fire since start of 2020
      Small, mid-size compounders keep value, agility, service 'in the mix'
    • Ohio firm focuses on making better masks in U.S.
      U.S. to increase NBR, make gloves using Defense Production Act
      Tire Cologne canceled; rescheduled for 2022
      Tire Technology Expo canceled for 2021
    • 9 Goodyear-Cooper Tire stories you may have missed
      Goodyear promotes Chris Helsel, expanding his global technology, operational role
      Stockwell Elastomerics' legacy moves on
      Dana Inc. hires Byron Foster in executive role
    • 9 Goodyear-Cooper Tire stories you may have missed
      Cooper recalling 430,000+ whitewall LT tires in multiple brands
      USTMA, NAM among associations backing passage of Equality Act
      Conti recalling 94,000 LT/SUV tires
    • Column: Discussions of race, equality may mean uncomfortable moments
      Column: Business trips possible because of essential workers
      Editorial: Associations see opportunity for progress under new administration
      Editorial: Against a backdrop of turmoil, M&A deals give glimpse of normalcy
    • Studying RPA ASTM methods for detecting compound quality differences
      Damage mechanism in oil and gas formulations during downhole testing
      Advancements in synchronous drive belt design for industrial and consumer markets
      Effects of multiple repurposed materials for reinforcements of standard rubber compounds
    • Rubber Division introduces WORD webinar series
      WORD panelists say evolution, authenticity keys to success
      New video celebrates women in rubber industry
      ITEC panelists say women can thrive in tire industry
    • Goodyear recognized by Lockheed Martin as 'elite supplier'
      EV tire advancements to help secure future
      Lambillotte: Only question on AVs is timing
      CAR official says EV future brighter than autonomous
    • Rubber Division introduces WORD webinar series
      Rubber Division seeks abstracts for 200th Technical Meeting
      WORD panelists say evolution, authenticity keys to success
      IEC keynote: Communication key to logistics
    • Sponsored By HEXPOL Compounding
      Faster Access to Your Polymer Compounding Experts Around the World
      Sponsored By HEXPOL Compounding
      Take a walk thru a HEXPOL Lab
      Sponsored By HEXPOL Compounding
      HEXPOL offers a unique selection of High Performance Elastomers to match your application requirements
      Sponsored By HEXPOL Compounding
      It’s what you can’t see that makes the Difference at HEXPOL
  • Blogs
    • Products
    • Wacky World of Rubber
    • New Products: Starrett expands field-of-view for multi-sensor vision system
      New Products: Nova thinks outside the box with sealing tech
      New Products: MonTech introduces 1,500 kN lab press
      New products: 3M introduces new durable, pliable medical adhesive
    • Wacky World of Rubber: How Trelleborg, teens sealed a spot in the world record book
      Wacky World of Rubber: Of chicken and feet, but not chicken feet
      Wacky World of Rubber: Time to go mattress shopping
      Wacky World of Rubber: Because nothing says football like 'frunk' shrimp
  • Newsletters
    • Rubber in Automotive
    • Silicone News
    • Latex News
    • Sign Up for Newsletters
    • Goodyear's global footprint would get strategic boost with Cooper Tire deal
      Goodyear-Cooper Tire deal 'a transactional milestone'
      Cooper recalling 430,000+ whitewall LT tires in multiple brands
      Yokohama sets ambitious goals through 2023
    • Stockwell Elastomerics' legacy moves on
      Larger mixers tout economies of scale, along with the need for speed
      Hexpol, Bloom deal with COVID, reorganization, fire since start of 2020
      Small, mid-size compounders keep value, agility, service 'in the mix'
    • Sri Trang Gloves starts major capacity expansion
      Synthomer dismisses takeover reports
      Combined Goodyear-Cooper Tire company has tire tech, sustainability edge
      Helixtap launches new digital marketplace for rubber
  • Multimedia
    • Videos
    • Photo Galleries
  • Directory
  • Resources
    • Classifieds & Mold Mart
    • Sponsored Content
    • White Papers
    • Sponsored By HB Chemical
      Above and Beyond with HB Chemical
      Sponsored By HB Chemical
      The Company Behind the Inventory
      Sponsored By French Oil Mill Machinery
      Process Improvement, Cost Reduction with Custom Press Systems
      Sponsored By HB Chemical
      Above and Beyond with HB Chemical
    • Sponsored By Uncountable Inc.
      Labs of the Future: How to Choose a Laboratory Information Management System in 2021
      Sponsored By Uncountable Inc.
      Cooper Standard deploys lab informatics platform to synchronize R&D
      Sponsored By Elkem
      LSR Select™: A solution to improve your financial impact in molding applications
      Sponsored By HEXPOL Compounding
      Peroxide Cureable Silicone Injection Molding
  • Data
  • Events
    • RPN Events
    • RPN Livestreams/Webinars
    • Industry Events
    • Past Events
    • ITEC Library
    • International Silicone Conference Library
    • 2021 Healthcare Elastomers Virtual Edition
      2021 Rubber in Automotive Virtual Edition
      2021 International Latex Conference Virtual Edition
      2022 ITEC
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. Financial
May 12, 2020 03:49 PM

Bridgestone: Demand for OE, replacement tires falling 'substantially'

European Rubber Journal Report
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    TOKYO—Bridgestone Corp.'s adjusted operating profit for the three months ended March 31 fell 39.3 percent to $457.5 million on 11.3 percent lower sales of $6.91 billion, as the outbreak of COVID-19 led to global production suspensions and low demand.

    Lower volumes had a negative impact of $266 million on profitability while, price mix and raw material effects helped partially offset the costs.

    The net result was a $725.1 million loss.

    Due to the difficulty in generating "rational" performance figures for the remainder of 2020, Bridgestone, at this time, did not issue a financial forecast for the fiscal year, opting to do so "promptly when calculation becomes possible."

    For the full year, Bridgestone said it expected demand for OE and replacement tires to be "substantially lower" than indicated in its February forecasts, due to "significant stagnancy" in the global economy.

    Sales fell in all regions with Asia/Pacific (including China) registering the biggest decline—25 percent to $826.5 million.

    Revenue in the Americas region dropped 8.5 percent to $3.33 billion; operating profit in the region fell $202 million into the red.

    Bridgestone did not give a breakdown of tire and non-tire sales data, but did note that tire production was down 17.5 percent to 40,000 metric tons. This includes a 13.3 percent drop in the Americas to 13,000 tons.

    During the quarter, Bridgestone suspended production for the better part of a month at most factories in the Americas and Europe/Middle East/Africa, while production in Japan was not affected until late April, and then for only a few days, Bridgestone said.

    In terms of volume, passenger tire unit sales fell 15 percent overall, with China showing the biggest drops both in the OE and replacement segments. In North America, OE sales dropped 19 percent and replacement sales were off 11 percent.

    Volume sales for truck and bus tires fell 13 percent as China registered 31 percent decreases in each of the OE and replacement segments. OE sales in North America dropped 26 percent, while replacement market sales grew by 2 percent.

    The Japanese group did not offer an outlook for the full year, citing "unpredictable elements that may cause fluctuations."

    Looking forward, Bridgestone said it expected tire demand to recover with the relaxation of travel restrictions and the restart of economic activities once the COVID-19 outbreak is under control.

    "However, at this point, it is difficult to foresee when the virus will be controlled in each region and how quickly their economics will recover," Bridgestone said.

    Letter
    to the
    Editor

    Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber & Plastics News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber & Plastics News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    web
    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Contact the Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • Silicone
      • Latex
      • Coronavirus
      • Executive Action
      • Government/Legal
      • Opinion
      • Technical Notebooks
      • Women in Tire & Rubber
      • ITEC
      • International Elastomer Show
      • HEXPOL Sponsored Content
    • Blogs
      • Products
      • Wacky World of Rubber
    • Newsletters
      • Rubber in Automotive
      • Silicone News
      • Latex News
      • Sign Up for Newsletters
    • Multimedia
      • Videos
      • Photo Galleries
    • Directory
    • Resources
      • Classifieds & Mold Mart
      • Sponsored Content
      • White Papers
    • Data
    • Events
      • RPN Events
      • RPN Livestreams/Webinars
      • Industry Events
      • Past Events
      • ITEC Library
      • International Silicone Conference Library
    • Advertise
    • DIGITAL EDITION