=Cooper Tire (CTB) reported earnings on Tue 23 Feb 2016 (before open)

Cooper Tire beats by $0.31, beats on revs; Announce Mgmt changes, increases share repurchase by $200 mln (Approx 10% of mt cap) :

• Reports Q4 (Dec) earnings of $1.04 per share, $0.31 better than the Capital IQ Consensus of $0.73; revenues fell 5.4% year/year to $776 mln vs the $762.26 mln Capital IQ Consensus.

2016 Outlook

• Unit volume growth in each of its segments, and unit volume growth in its U.S. operations at or above the industry;
• Further declines in raw material costs in the first quarter of 2016;
• Total company operating margin, excluding the impact of acquisitions, to be above the high end of the company's mid-term target of 8 to 10 percent, but not likely to exceed the 2015 results;
• Capital expenditures for 2016 to be in a range of $240 million to $260 million, excluding the impact of any acquisitions.