=Goodyear Tire (GT) reported earnings on Wed 8 Feb 2017 (b/o)

 Goodyear Tire beats by $0.08, misses on revs; confirms financial targets for 2020, expects flat y/y segment operating income in FY17 :

• Reports Q4 (Dec) earnings of $0.95 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of $0.87; revenues fell 7.9% year/year to $3.74 bln vs the $3.87 bln Capital IQ Consensus.
• Guidance:
  • As a result of the continued escalation of raw material costs and the timing of the corresponding contractual adjustments to pricing with certain of its customers, the company expects flat year-over-year segment operating income in 2017 compared to 2016.
  • The co has confirmed its 2020 financial targets and capital allocation plan, which were announced on September 15, 2016.
• On Feb 2, 2017, the Board authorized a $1.0 billion increase in the share repurchase program, bringing the total authorization to $2.1 billion.