Cooper Tire's 2Q results below expectations

July 10, 2003
Cooper Tire & Rubber Co. said its second-quarter earnings dropped below market expectations, though it expects earnings would improve overall by the end of the year. Findlay, OH-based Cooper said second-quarter earnings would fall between 13 to 17 cents per share, down slightly from earnings of 21 cents a share in the first quarter and 52 cents a share in the second quarter of 2002. Cooper added that
Cooper Tire & Rubber Co. said its second-quarter earnings dropped below market expectations, though it expects earnings would improve overall by the end of the year.

Findlay, OH-based Cooper said second-quarter earnings would fall between 13 to 17 cents per share, down slightly from earnings of 21 cents a share in the first quarter and 52 cents a share in the second quarter of 2002.

Cooper added that its second-quarter results include charges of 2 cents per share for restructuring costs, 4 cents per share related to temporary tire plant shutdowns, and 2 cents for a minor accrual adjustment and the write-off of certain tooling assets. However, Copper did get a 6 cent per share boost from reduced product liability and litigation expenses.

About the Author

Sean Kilcarr | Editor in Chief

Sean reports and comments on trends affecting the many different strata of the trucking industry -- light and medium duty fleets up through over-the-road truckload, less-than-truckload, and private fleet operations Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

Sponsored Recommendations

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry at our April 16th webinar, where experts will share insights on competitive pay...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

How Electric Vehicles Help You Prolong the Life of Your Fleet

Before adopting electric vehicles for commercial/government fleets, prioritize cost inquiries. Maintenance is essential; understand the upkeep of EV fleets. Here’s what you need...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!