NEW YORK (TheStreet) -- Goodyear Tire & Rubber Co.(GT) - Get Report stock is up by 4.10% to $27.42 in late morning trading on Tuesday, after the company reported better-than-expected 2015 fourth quarter earnings results.
Before the market open today, the tire manufacturer reported adjusted earnings of 93 cents per share, compared to analysts' forecasts for earnings of 75 cents per share. Revenue of $4.1 billion topped analysts' estimates for revenue of $4.01 billion.
Additionally, the company deconsolidated its Venezuelan subsidiary, which resulted in a loss of $380 million, or $1.42 per share. Goodyear paid a one-time pre-tax charge of $646 million related to the deconsolidation.
"Earnings in Europe, Middle East and Africa recovered in the quarter despite a challenging environment," CEO Richard Kramer said in a statement. "Our record results reflect strong demand for our high-value-added Goodyear-brand tires and our focus on capturing the value of these products in the marketplace."
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "buy" with a ratings score of B. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, notable return on equity, attractive valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: GT