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Cooper Tire & Rubber down after margins suffer

Published 02/20/2018, 08:45 AM
© Reuters.  Cooper Tire & Rubber down after margins suffer
CTB
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  • Cooper Tire & Rubber (NYSE:CTB) reports unit volume slipped 1.9% in Q4.
  • Americas tire sales fell 7.1% to $645M due to 6.2% decline in unit volume.
  • International tire sales up 30.5% to $162M and
  • International unit volume grew 15%, with increased unit volume in Asia.
  • Gross margin rate squeezed 690 bps to 14.7%.
  • SG&A expense rate +40 bps to 8.5%.
  • Operating margin rate fell 720 bps to 6.2%.
  • Americas tire operating margin rate down 740 bps to 9.4%.
  • FY2018 Guidance: Effective tax rate: 23% to 26%; Capex: $215M to $235M.
  • CTB -4.49% premarket.
  • Now read: More on Fresh Del Monte's Q4


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