N. America boosts Goodyear

February 13, 2014

The tire and rubber company's Q4 EPS soared 89.7% to 74 cents, beating views by 12 cents. A rise in car sales has helped boost tire sales, as N. American sales jumped 7% during the quarter. Revenue dipped 5% to $4.79 bil, under views for $4.95 bil. Global tire sales rose 2% to 40.7 mil. Goodyear (GT) sees a 2%-3% rise in unit volumes in '14 vs. '13. The company has also resolved labor issues with protesting workers and will close a production plant in France by the end of March. Shares leapt 11.5% to 26.94.