TOKYO — Bridgestone Corp. reported strong results for both the third quarter of 2021 and the first nine months of the year, helped by increasing demand in the replacement passenger car tire segment.
Adjusted operating profit for the three months ended Sept. 30 rose 53.6% over the 2020 period to $924.5 million on 12.4% higher sales of $7.57 billion. Net income stood at $641 million; the comparative 2020 period was a loss.
For the nine-month period, operating profit was up 168% at $2.53 billion on 19.9% higher sales of $21.8 billion. Net earnings were $3.84 billion; the 2020 comparable period was a net loss.
The tire business unit reported a 141.2% jump in operating income for the nine-month period, to $2.69 billion, on 20.9% higher sales of $19 billion, yielding an operating ratio of 14.2%, double that of a year ago. Within the business unit, all sectors reported double-digit growth over the comparable 2020 period.
Sales in the Americas rose 16.5% in the quarter to $3.43 billion and 23.2% during the nine months to $9.52 billion.