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Goodyear Reports Record Results
- Record third quarter segment operating income of $520 million, up 21%
- Record North America third quarter earnings up 30% to $210 million
- Europe, Middle East and Africa third quarter earnings up 57% to $181 million
- Year-to-date segment operating income of $1.4 billion, up 17%
- Company expects 2014 earnings growth near high end of 10% - 15% range
- Company reaffirms 2014-2016 financial targets
- Company plans to acquire up to $150 million of its common stock in fourth quarter

AKRON, Ohio, Oct. 29, 2014 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) today reported record segment operating income for the third quarter of 2014.

The Goodyear Tire & Rubber Company, Akron, Ohio, USA.

"We delivered outstanding earnings growth in the quarter and achieved a segment operating income margin of more than 11 percent, the highest in more than a decade, despite an increasingly challenged global economy," said Richard J. Kramer, chairman and chief executive officer.

"These results reflect our focus on capturing the value of our branded products in the marketplace and continued progress generating cost savings through our operational excellence activities," he added.

Goodyear's third quarter 2014 sales were $4.7 billion, compared to $5.0 billion a year ago. Sales were negatively impacted by $137 million in unfavorable foreign currency translation. Tire unit volumes totaled 41.9 million for the third quarter of 2014, down 2 percent year-over-year. Original equipment unit volume was down 3 percent, primarily due to reduced vehicle production in Brazil. Replacement tire shipments were down 1 percent, due primarily to a decline in North America where markets were disrupted due to significant stockpiling of imported low-end tires in advance of potential tariffs being imposed in 2015.

"In the distorted North American industry environment, we remained committed to our strategy of pursuing profitable volume and we achieved record segment operating income in the quarter," said Kramer.

The company reported segment operating income of $520 million in the third quarter of 2014, a record for any quarter. Segment operating income was up 21 percent from the year-ago quarter driven by significant improvement in North America; Europe, Middle East and Africa, and Asia Pacific.

Goodyear's third quarter 2014 net income available to common shareholders was $161 million (58 cents per share). Excluding certain significant items, adjusted net income was $242 million (87 cents per share). 

For the third quarter of 2013, net income available to common shareholders was $166 million (62 cents per share). Excluding certain significant items, adjusted net income was $190 million (68 cents per share). Per share amounts are diluted.

Year to date

Goodyear's sales for the first nine months of 2014 were $13.8 billion, compared to $14.8 billion in the 2013 period. Tire unit volumes totaled 122.5 million for the first nine months of 2014, up 1 percent from 2013. Replacement tire shipments were up 2 percent. Original equipment unit volume was down 3 percent.

The company's year-to-date segment operating income of $1.4 billion was up 17 percent from last year and a record. Compared to the prior year, year-to-date segment operating income reflects significant earnings growth in North America and Europe, Middle East and Africa.

Goodyear's year-to-date net income available to common shareholders was $316 million ($1.15 per share). Excluding certain significant items, adjusted net income was $621 million ($2.22 per share).

For the first nine months of 2013, net income available to common shareholders was $372 million ($1.43 per share). Excluding certain significant items, adjusted net income was $517 million ($1.87 cents per share). All per share amounts are diluted.

See the note at the end of this release for further explanation and reconciliation tables for Segment Operating Income and Margin; Free Cash Flow from Operations; and Adjusted Net Income, reflecting the impact of certain significant items on the 2014 and 2013 periods.

Business Segment Results

North America

 

Third Quarter

 

Nine Months

   

(in millions)

2014

 

2013

 

2014

2013

   

Tire Units

15.2

 

15.8

 

45.1

45.4

   

Sales

$ 2,057

 

$ 2,186

 

$   5,980

$ 6,553

   

Segment Operating Income 

210

 

161

 

574

492

   

Segment Operating Margin

10.2%

 

7.4%

 

9.6%

7.5%

   

North America's third quarter 2014 sales decreased 6 percent from last year to $2.1 billion. Sales reflect a 4 percent decrease in tire unit volume and unfavorable currency translation. Replacement tire shipments were down 4 percent. Original equipment unit volume was down 4 percent.

Third quarter 2014 segment operating income of $210 million was a 30 percent improvement over the prior year and a record for any quarter. The improvement was driven primarily by lower conversion and raw material costs.

Europe, Middle East and Africa

 

Third Quarter

 

Nine Months

 

(in millions)

2014

 

2013

 

2014

2013

 

Tire Units

16.4

 

16.7

 

47.7

46.4

 

Sales

$ 1,618

 

$ 1,752

 

$   4,874

$ 4,936

 

Segment Operating Income 

181

 

115

 

408

197

 

Segment Operating Margin

11.2%

 

6.6%

 

8.4%

4.0%

 

Europe, Middle East and Africa's third quarter sales decreased 8 percent from last year to $1.6 billion. Sales reflect a 1 percent decrease in tire unit volume, lower price/mix and unfavorable currency translation. Replacement tire shipments were down 1 percent. Original equipment unit volume was down 3 percent.

Third quarter 2014 segment operating income of $181 million was 57 percent above the prior year primarily due to lower conversion and raw material costs as well as cost reduction actions, including savings from the closure of a tire plant in Amiens, France.

Latin America

 

Third Quarter

 

Nine Months

 

(in millions)

2014

 

2013

 

2014

2013

 

Tire Units

4.3

 

4.5

 

12.7

13.5

 

Sales

$   451

 

$     527

 

$ 1,362

$ 1,571

 

Segment Operating Income

49

 

89

 

150

231

 

Segment Operating Margin

10.9%

 

16.9%

 

11.0%

14.7%

 

Latin America's third quarter sales decreased 14 percent from last year to $451 million. Sales reflect a 5 percent decrease in tire unit volume and unfavorable foreign currency translation, partially offset by improved price/mix. Replacement tire shipments were up 4 percent. Original equipment unit volume was down 27 percent, primarily in Brazil.

Third quarter segment operating income of $49 million was down 45 percent from a year ago primarily due to the effects of continuing challenges in the operating environment in Venezuela, lower original equipment volume and increased plant expansion expenses in Brazil.

Asia Pacific

 

Third Quarter

 

Nine Months

 

(in millions)

2014

 

2013

 

2014

2013

 

Tire Units

6.0

 

5.6

 

17.0

16.3

 

Sales

$   531

 

$   537

 

$   1,566

$ 1,689

 

Segment Operating Income

80

 

66

 

221

241

 

Segment Operating Margin

15.1%

 

12.3%

 

14.1%

14.3%

 

Asia Pacific's third quarter sales decreased 1 percent from last year to $531 million. Sales reflect a 7 percent increase in tire unit volume, which was more than offset by unfavorable price/mix and lower off-the-road tire sales. Replacement tire shipments were up 4 percent. Original equipment unit volume was up 11 percent.

Third quarter segment operating income of $80 million was up 21 percent from last year, driven by higher volume and lower SAG expenses.

Outlook
The company reaffirmed its 2014-2016 financial targets, which include:
- Segment Operating Income growth of between 10 percent and 15 percent per year,
- Annual positive Free Cash Flow from Operations and,
- An Adjusted Debt to EBITDAP ratio of 2.0x to 2.1x.

The company now anticipates Segment Operating Income growth in 2014 will be near the high end of the 10 percent to 15 percent range. Based on year-to-date performance, the company now expects unit volumes to be flat to up 1 percent for 2014 over 2013.

Common Stock Dividend
The company paid a quarterly dividend of 6 cents per share of common stock on September 2, 2014. Directors have declared a quarterly dividend of 6 cents per share payable December 1, 2014 to shareholders of record on October 31, 2014.

Common Stock Share Repurchase
As a part of its previously announced $450 million share repurchase program, the company repurchased 1,200,000 shares of its common stock at an average price of $24.75 per share during the third quarter. Year-to-date, Goodyear has repurchased 3,200,000 shares of its common stock at an average price of $26.03 per share.

Based on recent trading prices of its common stock, the company plans to acquire up to $150 million of its common stock under its existing share repurchase program during the fourth quarter of 2014.

Conference Call
Goodyear will hold an investor conference call at 9 a.m. today. Prior to the commencement of the call, the company will post the financial and other related information that will be presented on its investor relations Web site: http://investor.goodyear.com.

Participating in the conference call will be Richard J. Kramer, chairman and chief executive officer, and Laura K. Thompson, executive vice president and chief financial officer. 

Investors, members of the media and other interested persons can access the conference call on the Web site or via telephone by calling either 800-895-1085 or 785-424-1055 before 8:55 a.m. and providing the Conference ID "Goodyear." A taped replay will be available by calling 800-753-4606 or 402-220-2103. The replay will also remain available on the Web site.

Goodyear is one of the world's largest tire companies. It employs about 68,000 people and manufactures its products in 50 facilities in 22 countries around the world. Its two Innovation Centers in Akron, Ohio and Colmar-Berg, Luxembourg strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.  GT-FN

Certain information contained in this press release may constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to implement successfully strategic initiatives; actions and initiatives taken by both current and potential competitors; increases in the prices paid for raw materials and energy; a labor strike, work stoppage or other similar event; deteriorating economic conditions or an inability to access capital markets; work stoppages, financial difficulties or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the company; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.

 

(financial statements follow)

 

 

The Goodyear Tire & Rubber Company and Subsidiaries

Consolidated Statements of Operations (unaudited)

 

 

Three Months
Ended

 

Nine Months
Ended

 

September 30,

 

September 30,

(In millions, except per share amounts)

2014

2013

 

2014

2013

           

NET SALES

$ 4,657

$ 5,002

 

$13,782

$14,749

           

Cost of Goods Sold

3,516

3,946

 

10,566

11,732

Selling, Administrative and General Expense

653

686

 

2,018

2,022

Rationalizations

15

21

 

80

41

Interest Expense

108

100

 

315

287

Other Expense

66

--

 

242

112

           

Income before Income Taxes

299

249

 

561

555

United States and Foreign Taxes

100

54

 

168

136

           

Net Income

199

195

 

393

419

     Less:  Minority Shareholders' Net Income

38

22

 

70

25

           

Goodyear Net Income

161

173

 

323

394

Less:  Preferred Stock Dividends

--

7

 

7

22

Goodyear Net Income Available to
   Common Shareholders

$       161

$       166

 

$       316

$       372

           

Goodyear Net Income Available to
   Common Shareholders - Per Share of
   Common Stock

         
           

   Basic

$      0.58

$       0.67

 

$       1.18

$     1.51

           

   Weighted Average Shares Outstanding

275

246

 

266

246

           

   Diluted

$      0.58

$      0. 62

 

$       1.15

$       1.43

           

   Weighted Average Shares Outstanding

279

278

 

280

276

           

Cash Dividends Declared Per Common Share

$      0.06

$      0.05

 

$       0.16

$       0.05

           

 

 

 

 

The Goodyear Tire & Rubber Company and Subsidiaries

Consolidated Balance Sheets (unaudited)

 

(In millions, except share data) 

September 30,

December 31,

 

2014

2013

Assets:

   

Current Assets:

   

  Cash and Cash Equivalents

$     1,744

$     2,996

  Accounts Receivable, less Allowance - $96 ($99 in 2013)

3,021

2,435

  Inventories:

   

     Raw Materials

584

592

     Work in Process

161

164

     Finished Products

2,179

2,060

 

2,924

2,816

  Prepaid Expenses and Other Current Assets

358

397

     Total Current Assets

8,047

8,644

Goodwill

623

668

Intangible Assets

135

138

Deferred Income Taxes

105

157

Other Assets

654

600

Property, Plant and Equipment

  less Accumulated Depreciation - $9,189 ($9,158 in 2013)

7,092

7,320

    Total Assets

$   16,656

$   17,527

     

Liabilities:

   

Current Liabilities:

   

  Accounts Payable-Trade

$     2,827

$     3,097

  Compensation and Benefits

774

758

  Other Current Liabilities

1,036

1,083

  Notes Payable and Overdrafts

38

14

  Long Term Debt and Capital Leases due Within One Year

98

73

    Total Current Liabilities

4,773

5,025

Long Term Debt and Capital Leases

6,719

6,162

Compensation and Benefits

1,307

2,673

Deferred and Other Noncurrent Income Taxes

243

256

Other Long Term Liabilities

916

966

    Total Liabilities

13,958

15,082

     

Commitments and Contingent Liabilities

   

Minority Shareholders' Equity

595

577

     

Shareholders' Equity:

   

Goodyear Shareholders' Equity:

   

Preferred Stock, no par value:

   

Authorized, 50 million shares, Outstanding shares – none (10 million in 2013),
liquidation preference $50 per share

--

500

Common Stock, no par value:

   

Authorized, 450 million shares, Outstanding shares – 275 million (248 million
in 2013) after deducting 3 million treasury shares (3 million in 2013)

275

248

Capital Surplus

3,275

2,847

Retained Earnings

2,231

1,958

Accumulated Other Comprehensive Loss

(3,919)

(3,947)

   Goodyear Shareholders' Equity

1,862

1,606

Minority Shareholders' Equity – Nonredeemable

241

262

   Total Shareholders' Equity

2,103

1,868

   Total Liabilities and Shareholders' Equity

$   16,656

$   17,527

     

 

 

 

 

 

The Goodyear Tire & Rubber Company and Subsidiaries

Consolidated Statements of Cash Flows (unaudited)

 

(In millions) 

Nine Months Ended

 

September 30,

 

2014

2013

Cash Flows from Operating Activities:

   

Net Income

$        393

$ 419

  Adjustments to Reconcile Net Income to Cash Flows from Operating Activities:

   

     Depreciation and Amortization

553

539

     Amortization and Write-Off of Debt Issuance Costs

12

13

     Deferred Income Taxes

61

3

     Net Pension Curtailments and Settlements

39

--

     Net Rationalization Charges

80

41

     Rationalization Payments

(169)

(60)

     Net (Gains) Losses on Asset Sales

4

(6)

     Pension Contributions and Direct Payments

(1,292)

(1,072)

     Net Venezuela Currency Remeasurement Loss

155

115

     Customer Prepayments and Government Grants

5

32

     Insurance Proceeds

4

17

  Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:

   

     Accounts Receivable

(675)

(728)

     Inventories

(226)

249

     Accounts Payable - Trade

(69)

(26)

     Compensation and Benefits

103

215

     Other Current Liabilities

(5)

(12)

     Other Assets and Liabilities

88

(37)

     Total Cash Flows from Operating Activities

(939)

(298)

Cash Flows from Investing Activities:

   

  Capital Expenditures

(634)

(734)

  Asset Dispositions

6

8

  Decrease in Restricted Cash

6

3

  Short Term Securities Acquired

(72)

(89)

  Short Term Securities Redeemed

82

81

  Other Transactions

7

6

     Total Cash Flows from Investing Activities

(605)

(725)

Cash Flows from Financing Activities:

   

  Short Term Debt and Overdrafts Incurred

52

30

  Short Term Debt and Overdrafts Paid

(24)

(89)

  Long Term Debt Incurred

1,739

2,152

  Long Term Debt Paid

(1,054)

(660)

  Common Stock Issued

41

16

  Common Stock Repurchased

(97)

(1)

  Common Stock Dividends Paid

(43)

--

  Preferred Stock Dividends Paid

(15)

(22)

  Transactions with Minority Interests in Subsidiaries

(36)

(10)

  Debt Related Costs and Other Transactions

--

(16)

     Total Cash Flows from Financing Activities

563

1,400

Effect of Exchange Rate Changes on Cash and Cash Equivalents

(271)

(158)

Net Change in Cash and Cash Equivalents

(1,252)

219

Cash and Cash Equivalents at Beginning of the Period

2,996

2,281

Cash and Cash Equivalents at End of the Period

$   1,744

$     2,500

Non-GAAP Financial Measures
This earnings release presents Total Segment Operating Income, Free Cash Flow from Operations, Adjusted Net Income and Adjusted Diluted Earnings Per Share (EPS) on a historical basis and our targeted Total Segment Operating Income growth rate for 2014-2016 and our targeted ratio of Adjusted Debt to EBITDAP for 2016, which are important financial measures for the company but are not financial measures defined by U.S. GAAP, and should not be construed as an alternative to corresponding financial measures presented in accordance with U.S. GAAP.

Total Segment Operating Income is the sum of the individual strategic business units' (SBUs) Segment Operating Income as determined in accordance with U.S. GAAP. Management believes that Total Segment Operating Income is useful because it represents the aggregate value of income created by the company's SBUs and excludes items not directly related to the SBUs for performance evaluation purposes.

Free Cash Flow from Operations is the company's Cash Flow from Operations as determined in accordance with U.S. GAAP before pension contributions and direct payments and rationalization payments, less capital expenditures. Management believes that Free Cash Flow from Operations is useful because it represents the cash generating capability of the company's ongoing operations, after taking into consideration capital expenditures necessary to maintain its business and pursue growth opportunities.

Adjusted Net Income is Goodyear's Net Income as determined in accordance with U.S. GAAP adjusted for certain significant items. Adjusted Diluted EPS is the company's Adjusted Net Income divided by Weighted Average Shares Outstanding-Diluted as determined in accordance with U.S. GAAP. Management believes that Adjusted Net Income and Adjusted Diluted EPS are useful because they represent how management reviews the operating results of the company excluding the impacts of rationalizations, asset write-offs, accelerated depreciation, asset sales and certain other significant items.

Adjusted Debt is the sum of our total debt and our global pension liability, each as determined in accordance with U.S. GAAP, and EBITDAP, as adjusted, represents Net Income (the most directly comparable U.S. GAAP financial measure) before interest expense, income tax expense, depreciation and amortization expense, net periodic pension cost, rationalization charges and other (income) and expense. We refer to the ratio of Adjusted Debt to EBITDAP because we believe it is widely used by investors as a means of evaluating a company's leverage.

We are unable to present a quantitative reconciliation of our forward-looking non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures, because management cannot reliably predict all of the necessary components of those U.S. GAAP financial measures without unreasonable effort. These components could be significant to the calculation of those U.S. GAAP financial measures in the future.

It should be noted that other companies may calculate similarly-titled non-GAAP financial measures differently and, as a result, the measures presented herein may not be comparable to such similarly-titled measures reported by other companies.

See the tables below for reconciliations of historical Total Segment Operating Income, Free Cash Flow from Operations, Adjusted Net Income and Adjusted Diluted EPS to the most directly comparable U.S. GAAP measures.

 

Total Segment Operating Income and Margin Reconciliation Table

 

Three Months
Ended

Nine Months
Ended

September 30,

September 30,

     

(In millions)

2014

2013

2014

2013

Segment Operating Income 

$520

$431

$1,353

$1,161

  Rationalizations

15

21

80

41

  Interest Expense

108

100

315

287

  Other Expense

66

--

242

112

  Asset Write-offs and Accelerated Depreciation

--

5

3

15

  Corporate Incentive Compensation Plans

23

34

69

79

  Pension Curtailments/Settlements

--

--

33

--

  Intercompany Profit Elimination

(5)

5

4

5

  Retained Expenses of Divested Operations

4

7

11

17

  Other

10

10

35

50

Income before Income Taxes

$299

$249

$561

$555

United States and Foreign Taxes

100

54

168

136

Less: Minority Shareholders Net Income

38

22

70

25

Goodyear Net Income

$161

$173

$323

$394

         

Sales

$4,657

$5,002

$13,782

$14,749

Return on Sales

3.5%

3.5%

2.3%

2.7%

Total Segment Operating Margin

11.2%

8.6%

9.8%

7.9%

 

Free Cash Flow from Operations Reconciliation Table

 

Three Months

 

Ended

 

September 30,

(in millions)

2014

2013

Net Income

$199

$195

   Depreciation and Amortization

182

182

   Working Capital (1)

(362)

(284)

   Pension Expense (2)

36

65

   Other (3)

225

102

   Capital Expenditures

(193)

(241)

Free Cash Flow from Operations (non-GAAP)

$87

$19

   Capital Expenditures

193

241

   Pension Contributions and Direct Payments

(35)

(79)

   Rationalization Payments

(50)

(17)

Cash Flow from Operating Activities (GAAP)

$195

$164

Amounts are calculated from the consolidated Statements of Cash Flows except for pension expense, which is as reported in the Notes to Consolidated Financial Statements. 

(1) Working Capital represents total changes in accounts receivable, inventories and accounts payable – trade.
(2) Pension expense is the net periodic pension cost (before curtailments, settlements and termination benefits) as reported in the pension-related note in the Notes to Consolidated Financial Statements.
(3) Other includes amortization and write-off of debt issuance costs, deferred income taxes, net pension curtailments and settlements, net rationalization charges, net (gains) losses on asset sales, net Venezuela currency remeasurement loss, customer prepayments and government grants, insurance proceeds, compensation and benefits less pension expense, other current liabilities, and other assets and liabilities.

 

Adjusted Net Income Reflecting Certain Significant Items (after tax and minority interest)

   

Per Share

Third Quarter 2014

In Millions

(Diluted)

Goodyear Net Income

$ 161

$  0.58

Significant Items:

   

    Discrete Tax Items      

47

0.17

    Charge Relating to Government Investigation in Africa      

16

0.06

    Rationalizations, Asset Write-offs, and Accelerated    

       Depreciation Charges

9

0.03

    Net Losses on Asset Sales

6

0.02

    Charges Relating to Labor Claims with Respect to a Previously
       Closed Facility in Europe

3

0.01

 

$   81

$  0.29

Adjusted Net Income (non-GAAP)

$ 242

$  0.87

     
   

Per Share

Third Quarter 2013

In Millions

(Diluted)

Goodyear Net Income

$ 173

$ 0.62

Significant Items:

   

    Rationalizations, Asset Write-offs, and Accelerated
       Depreciation Charges

19

0.07

    Net Gain on Asset Sales

(2)

(0.01)

 

$   17

$ 0.06

Adjusted Net Income (non-GAAP)

$ 190

$ 0.68

 

 

 

Adjusted Net Income Reflecting Certain Significant Items (after tax and minority interest)

   

Per Share

First Nine Months 2014

In Millions

(Diluted)

Goodyear Net Income

$ 323

$  1.15

Significant Items:

   

    Charge Relating to Net Remeasurement Loss in Venezuela

130

0.47

    Rationalizations, Asset Write-offs, and Accelerated    

       Depreciation Charges

58

0.21

    Discrete Tax Items      

47

0.17

    Pension Curtailments and Settlements

36

0.13

    Charges Relating to Labor Claims with Respect to a Previously
       Closed Facility in Europe

20

0.07

    Charge Relating to Government Investigation in Africa      

16

0.06

    Net Losses on Asset Sales

4

0.01

    Settlement of Indirect Tax Claims      

(13)

(0.05)

 

$ 298

$  1.07

Adjusted Net Income (non-GAAP)

$ 621

$  2.22

     
   

Per Share

First Nine Months 2013

In Millions

(Diluted)

Goodyear Net Income

$ 394

$ 1.43

Significant Items:

   

    Net Venezuela Currency Remeasurement Loss

92

0.33

    Rationalizations, Asset Write-offs, and Accelerated
       Depreciation Charges

42

0.15

    Charges Relating to Labor Claims with Respect to a

       Previously Closed Facility in Europe

6

0.02

    Net Gains on Asset Sales

(5)

(0.02)

    Discrete Tax Items

(6)

(0.02)

    Net Insurance Recoveries from 2011 Thailand Flood

(6)

(0.02)

 

$ 123

$ 0.44

Adjusted Net Income (non-GAAP)

$ 517

$ 1.87

Logo - http://photos.prnewswire.com/prnh/20050204/GTLOGO

SOURCE The Goodyear Tire & Rubber Company

For further information: MEDIA CONTACT: Keith Price, 330-796-1863; ANALYST CONTACT: Christina Zamarro, 330-796-1042
Oct 29, 2014
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