Current Issue

Bridgestone reports strong Q1

Comments Email

TOKYO (May 9, 2014) — Bridgestone  Corp. recorded 56.3- and 67-percent gains in operating and net income in the quarter ended March 31 on 8.6-percent better sales.

Operating income in the first quarter jumped to $1.09 billion on sales of $8.05 billion, while net earnings rose to $670.7 million.

Bridgestone did not enumerate reasons for the above-average gains in earnings.

Bridgestone’s tire business performed on par with the overall corporate results — operating income up 56 percent to $996 million on 8-percent higher sales of $6.79 billion.

Bridgestone said unit sales of consumer and commercial vehicle tires were up in Japan, the Americas and Europe, but consumer sales in Asia/Pacific were flat with the 2013 first quarter and commercial sales were down. Global sales of off-the-road tires fell “substantially” from 2013 as demand in this sector waned.

Bridgestone’s sales in the Americas (tire and not-tire businesses combined) were up 8 percent to $3.6 billion, while operating profit of $314 million was unchanged from a year go.

The company noted that industrywide shipments were up in North America: 2 percent for consumer replacement; 3 percent of consumer OE; 2 percent for commercial replacement; and 19 percent for commercial OE.

For the full year, Bridgestone said it expects the North America consumer and commercial tire replacement markets to grow by 6 and 8 percent, respectively.




More Polls>

TB Reader Poll

Previous | Published November 19, 2015

Do you give any credence to news reports trying to link cancer in youth soccer players to crumb rubber used in artificial turf?

Yes. Where there’s smoke there’s fire.
(18 votes)
No. There’s no proof to make the claim.
(70 votes)
I’m undecided and think there needs to be an independent study.
(48 votes)
Total votes: 136