Goodyear Tire & Rubber Co. reported a...
Goodyear Tire & Rubber Co. reported a $156-million earnings turnaround, citing reductions in sales and administrative costs, decreased debt and increased productivity and efficiency.
The Akron, Ohio, tire maker said it earned $66.3 million, or 94 cents a share, in the first quarter. It posted a loss of $90.1 million, or $1.54 a share, a year earlier.
Revenue rose 12% to $2.8 billion from $2.5 billion in the first quarter of last year.
The first-quarter 1991 loss also reflected a $59.7-million charge for restructuring.
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