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Tuesday, Feb 12, 2013 1:45 PM UTC

Goodyear tops 4Q; Europe weighs on outlook

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Topics: From the Wires,

CLEVELAND (AP) — Goodyear easily topped Wall Street expectations for the fourth quarter, but shares slid before the opening bell with Europe dragging down the tire maker’s outlook for 2013.

The Akron company cut its full-year outlook for 2013 segment operating income from $1.6 billion, to between $1.4 billion and $1.5 billion.

The company broke even for the quarter, compared with net income of $18 million, or 7 cents per share, during the same period last year.

Revenue was $5 billion, down from $5.7 billion last year as a sluggish European economy led to a 16 percent drop in sales for the region.

Shares of Goodyear Tire & Rubber Co., based in Akron, slipped 3 percent in premarket trading.

More By Thomas J. Sheeran.

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