Goodyear Tire Expands Share Buyback - Quick Facts

(RTTNews) - While reporting its fourth-quarter financial results today, tire manufacturer Goodyear Tire & Rubber Co. (GT) provided financial outlook for fiscal 2016 and increased its share repurchase authorization to $1.1 billion.

For fiscal 2016, Goodyear Tire projects segment operating income growth of between 10 percent and 15 percent from ongoing operations, excluding Venezuela, and positive free cash flow from operations.

Further, the company said that on February 4, 2016, its board of directors authorized a $650 million increase in the share repurchase program, bringing the total to $1.1 billion.