On April 30, 2015, Goodyear Tire & Rubber announced its first quarter 2014 financial results, and its quarterly pre-tax net profit grew compared with the same period of last year.

Mr. Richard J. Kramer, chairman and chief executive officer, said: “In 2015, the strong performance in the first quarter brought us a steady growth momentum. We have overcome the severe foreign exchange deficit. Achieved a record high revenue performance; and the first is North America, the pre-tax interest rate for more than 10% for four consecutive quarters.

“The market’s demand for our high-quality and value-added tire products has driven our tire sales to grow, giving us more confidence in the outlook for the third quarter of the year,” Mr. Kramer added.

Goodyear’s first-quarter sales were $4 billion in 2015, compared to $4.5 billion in the same period last year. This is largely attributable to the conversion of the unfavorable exchange rate of $393 million. During the quarter, sales of tires totaled 40.8 million, an increase of 2% year-on-year. Sales of matching tires increased by 3%. Replacement tire sales increased by 2%.

The net interest before taxation in the first quarter of 2015 reached 391 million U.S. dollars, a record high in the historical quarter, compared with 373 million U.S. dollars in the same period last year. The increase in net profit before taxation benefited from the increase in sales volume, net profit from changes in product pricing and product mix, and changes in raw material costs, and improvements in other cost items. However, the unfavorable exchange rate partially offset these improvements.

Asia Pacific Tire Business

Goodyear Tire Asia Pacific in the first quarter of 2015, tire sales grew by 9% and total sales fell 9% because of falling product pricing and product mix effects, as well as unfavorable exchange rates had a negative impact on sales for the quarter. This quarter, replacement tire sales remained unchanged from last year. Supporting tire sales increased by 20%, with sales growth in China and India particularly significant.

Asia Pacific’s net interest before taxation in the first quarter of 2015 reached US$67 million, an increase of 3% year-over-year, mainly due to sales growth.

Future outlook

Goodyear reaffirmed its financial targets for 2015-2016, including: expected annual average growth rate of net profit before taxation to reach 10%-15%; annual operating cash flow to maintain freedom; and the company's liability/EBIT ratio from 2 times adjusted to 2.1 times.

Rotor Shaft

Rotor Shaft,Wood Pallet Machine Line,Wood Sawdust Block Making Machine,Wood Sawdust Block Press

Taizhou Hongxiang Power Machinery Co.,Ltd , https://www.tzhxcamshaft.com