Cooper Tire & Rubber Company Q4 Profit Falls

(RTTNews) - Cooper Tire & Rubber Company (CTB) reported fourth quarter earnings per share of $0.75 compared to $1.02, prior year. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.92, for the quarter. Analysts' estimates typically exclude special items. Operating profit was $60 million, compared to $64 million, a year ago. Fourth quarter net sales decreased 2.9 percent year-on-year to $728 million. Global unit volume decreased 9.8 percent from prior year. Analysts expected revenue of $732.68 million, for the quarter.

Goodyear has agreed to acquire Cooper in a transaction with a total enterprise value of approximately $2.5 billion and a total equity value of approximately $2.8 billion.

Shares of Cooper Tire & Rubber Company were up 13% in pre-market trade on Monday.