Cooper Tire & Rubber Company Reports First Quarter 2021 Results

FINDLAY, Ohio, May 3, 2021 – Cooper Tire & Rubber Company (NYSE: CTB) today reported first quarter 2021 net income of $22 million, or diluted earnings per share of $0.43, compared with a net loss of $12 million, or diluted loss per share of $0.23, for the same period last year.

First Quarter Highlights

• Global unit volume increased 16.6 percent compared to the first quarter of 2020.
• Net sales increased 23.3 percent from the first quarter of 2020 to $656 million.
• Operating profit was $38 million, or 5.8 percent of net sales, compared to an operating loss of $6 million, or 1.2 percent of net sales, in 2020.
• The quarter included $11 million of costs related to the proposed merger with Goodyear.
• Net income was $22 million, or $0.43 diluted earnings per share.

Source: Cooper Tire