Cooper Tire And Rubber Co Profit Retreats 36% In Q2

(RTTNews) - Cooper Tire And Rubber Co (CTB) announced earnings for second quarter that declined compared to the same period last year.

The company said its earnings dropped to $45.31 million, or $0.85 per share. This was lower than $70.75 million, or $1.27 per share, in last year's second quarter.

Analysts had expected the company to earn $0.74 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 2.6% to $720.75 million. This was down from $740.29 million last year.

Cooper Tire And Rubber Co earnings at a glance:

-Earnings (Q2): $45.31 Mln. vs. $70.75 Mln. last year. -Earnings Decline (Y-o-Y): -36.0% -EPS (Q2): $0.85 vs. $1.27 last year. -EPS Decline (Y-o-Y): -33.1% -Analysts Estimate: $0.74 -Revenue (Q2): $720.75 Mln vs. $740.29 Mln last year. -Revenue Change (Y-o-Y): -2.6%