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May 3, 2021

Cooper Tire Reports 23.3% Q1 Sales Increase Over 2020

Cooper Tire & Rubber Company reported a first-quarter 2021 net income of $22 million, compared with a net loss of $12 million for the same period last year.

First-quarter net sales were $656 million compared with $532 million in the first quarter of 2020, an increase of 23.3%. The company says first-quarter net sales were positively impacted by $88 million of higher unit volume, $30 million of favorable price and mix, and $6 million of favorable foreign currency impact. Operating profit was $38 million compared with an operating loss of $6 million in the first quarter of 2020.
Source: Tire Review

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