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Cooper Tire & Rubber profit beats consensus by 32.7% in Q2

Cooper Tire & Rubber Co. said its normalized net income for the second quarter was $1.39 per share, compared with the S&P Capital IQ consensus estimate of $1.05 per share.

EPS climbed 12.1% year over year from $1.24.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $77.5 million, an increase of 7.9% from $71.8 million in the year-earlier period.

The normalized profit margin increased to 10.5% from 9.6% in the year-earlier period.

Total revenue fell year over year to $740.3 million from $751.8 million, and total operating expenses decreased year over year to $611.5 million from $631.3 million.

Reported net income increased 18.7% on an annual basis to $70.6 million, or $1.27 per share, from $59.5 million, or $1.03 per share.