The Goodyear Tire & Rubber Q3 Profit Decreases, misses estimates

(RTTNews) - The Goodyear Tire & Rubber (GT) revealed a profit for third quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $44 million, or $0.16 per share. This compares with $132 million, or $0.46 per share, in last year's third quarter.

Excluding items, The Goodyear Tire & Rubber reported adjusted earnings of $116 million or $0.40 per share for the period.

Analysts on average had expected the company to earn $0.54 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.7% to $5.31 billion from $4.93 billion last year.

The Goodyear Tire & Rubber earnings at a glance (GAAP) :

-Earnings (Q3): $44 Mln. vs. $132 Mln. last year. -EPS (Q3): $0.16 vs. $0.46 last year. -Analyst Estimates: $0.54 -Revenue (Q3): $5.31 Bln vs. $4.93 Bln last year.