Goodyear Tire reports Q2 adjusted EPS (34c), consensus 16c

Reports Q2 revenue $4.87B, consensus $5.18B. The company said, “Second quarter results were impacted by softer industry volume, the ongoing effects of inflation, and the storm-related interruption of operations at Tupelo. Americas consumer replacement volume declined approximately 13%, driven by a strong comparable period, channel destocking, and the Tupelo storm. Before the impact of the Tupelo storm, consumer replacement declined 7% — outperforming the industry, which was down 9%. Our commercial truck volumes declined approximately 15% (0.3 million units) – better than the industry, which was down 19%.”