=Goodyear Tire (GT) reported earnings on Fri 28 Oct 2016 (b/o)

Goodyear Tire beats by $0.03, misses on revs; co lowers 2016 total segment operating income:

• Reports Q3 (Sep) earnings of $1.19 per share, $0.03 better than the Capital IQ Consensus of $1.16; revenues fell 8.1% year/year to $3.85 bln vs the $3.97 bln Capital IQ Consensus

Outlook:

• The co has confirmed its 2020 financial targets and capital allocation plan, which were announced on September 15, 2016. The company has revised its 2016 financial targets
• The co lowers full-year 2016 total segment operating income to be between $2.00-2.025 bln, down from ~$2.1-2.2 bln
• Co said, "our revised 2016 outlook reflects recent volatility impacting our U.S. commercial truck tire business. This near-term headwind will not have an impact on our value proposition or our ability to execute on our long-term plan."