Cooper Tire Second Quarter Numbers Down From 2017 Figures

8/6/18 – 8:43 A.M.

Cooper Tire & Rubber’s second-quarter numbers were down compared to 2017. The Findlay-based tire company reports it saw $15 million in net income during the second quarter of the year. That’s compared to $45 million a year ago. Net sales fell from $721 million to $698 million. Operating profit tumbled from $84 million in 2017 to $33 million during the second quarter of 2018.

However, some numbers improved from the first quarter of this year. In a statement, CEO Brad Hughes said, “Cooper delivered second-quarter results in line with our stated expectations, including an operating profit margin of 4.7 percent of net sales, up slightly from the previous quarter.” Hughes added that challenging industry conditions have continued longer than expected.

International tire operations continue to be a bright spot for Cooper. The division posted $168 million in net sales in the second quarter. That’s up from $151 million last year. It also saw operating profit hit $6 million, doubling the amount from the second quarter of 2017.

The Americas segment saw declining numbers. It posted $584 million in net sales for the quarter, down from $615 million a year ago. Operating profit fell from $91 million to $40 million.