Goodyear Sees Q4 Global Replacement Unit Volumes 3-4% Lower YoY, Raw Material Costs Lower By ~$300M
Portfolio Pulse from Benzinga Newsdesk
Goodyear Tire & Rubber Co. (GT) expects its Q4 global replacement unit volumes to be 3-4% lower year-over-year. However, the company anticipates its raw material costs to be lower by approximately $300 million.
November 06, 2023 | 9:36 pm
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Goodyear's Q4 global replacement unit volumes are expected to be lower, which could negatively impact revenues. However, a decrease in raw material costs could improve margins.
A decrease in unit volumes could lead to lower revenues, which may negatively impact the stock price. However, the decrease in raw material costs could improve the company's profit margins, potentially offsetting some of the negative impact.
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