Financial
Cooper Tire & Rubber Co. Reports 2019 Net Income Of $96M
Net sales were $2.75 billion compared to $2.81 billion the prior year.
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Net sales were $2.75 billion compared to $2.81 billion the prior year.
Company also issues Fiscal 2020 guidance.
Net Income for the quarter was $107 million compared to $147 million for the same period in 2018.
Company reports annual revenue growth of 5.3% to $12.5 billion; fourth quarter growth of 0.2%.
Fourth quarter sales went up 2.2% to $4.7 billion.
Consolidated net sales for 2019 were $1,137.9 million, compared to consolidated net sales of $1,092.1 million during 2018.
Full-year net sales increased 1.3% to $9.7 billion.
The company also said that restructuring initiatives are ahead of plan.
Fourth quarter sales were $1.43 billion.
Full year 2019 net income was $746 million, or $3.61 per diluted share.
