Cooper Tire's 2Q results below expectations

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

Sean Kilcarr

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 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 Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.