FINDLAY, OH — Cooper Tire & Rubber has raised its expectations for first quarter earnings. Cooper said earnings per share for the first quarter will be in the range of 30 to 34 cents (which includes the impact of approximately $4 million in restructuring costs), significantly higher than the company’s previous estimate of 24 to 28 cents per share which did not include any estimate for restructuring.
The company said the result is due to much higher sales as well as the strong operating performance of Cooper-Standard Automotive, due to higher customer production, new business won last year and a smaller than anticipated impact from increasing steel prices and other raw material costs during the quarter.
Full details of Cooper’s first quarter results will be made available on April 22.
For more information, go to: www.coopertire.com.
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