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Sales Bounce at Goodyear

Tire volume in the second quarter was 56.4 million units.
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(GT) - Get Goodyear Tire & Rubber Company Report

had its biggest quarterly sales number ever thanks to improved pricing, a better product mix and volume gains, as well as the favorable effects of currency conversion.

The Akron, Ohio, tiremaker said second-quarter earnings rose to $69 million, or 34 cents a share, from $30 million, or 17 cents a share, a year ago. Sales of $5 billion were a record for any quarter, and a 10% increase from $4.5 billion during the 2004 period.

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Tire volume in the second quarter was 56.4 million units, up from 55 million units last year. The volume growth was driven by the European, Latin American and Asia-Pacific markets.

Raw-material costs increased by about $133 million during the quarter, vs. a year ago. Goodyear expects raw-material costs to grow by about 10% for the full year.

Shares of Goodyear were gaining 65 cents, or 3.7%, to $18.10 in after-hours trading.